Your Real Inflation Rate
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hong kong things inflate most
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sorry... still not getting what "personal inflation" means?! Inflation doesn't have to do with the rising cost of a commodity if that commodity is going up for reasons other than a falling dollar. So if a commodity is rising because production is falling that has nothing to do with a dollar that's being printed!
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The actual inflation rate is 11-12% and rising fast. At today's rate a person's purchasing power will in 8 years decline to 75% of their current income. This assumes no cost of living increases. Cost of living increases are typically in line with the CPI which grossly understate.
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Inflation goes up when the buying power of the US dollar decreases(like it is everyday now).
Inflation goes up when the Federal Reserve floods the market with cheap credit(debt) and makes the Fiat-Money-Currency we have less valuable.
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The way they calculate what he calls "overall inflation" is, whenever the price of something goes up, they throw it out of the statistic.
The excuse being "when the price of steak goes up, you buy hamburger instead"
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The dollar closed today at 72.96. With Bernankes's planned .75 basis point cut, the momentum behind the recent dive threatens to blow the value of the dollar below 72. There is no support for the dollar and it will head toward 42. There is a strong correlation between the the value of the dollar and price inflation. With the inflation already in the pipeline, we will likely see a 20% to 50% increases in prices this year.
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This video failed to mention that the government cooks the books on inflation - they exclude energy and food. It's 2% inflation if you never drive, heat your home, or buy groceries. And for things like electronics they fudge the numbers by saying "Well, that new TV is $100 more than the old one but it has new features (i.e. picture-in-picture)We've magically decided that the new features are worth $200 so actually this TV's price has gone down by $100"
weluckyfew 3 years ago 3