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While acknowledging that food prices have gone up 3.1% year over year, 3rd quarter inflation came in as..(wait for it, Plano Steve)..0%.

The month of October also came in at 0%.

Year over year inflation..1.7%..core inflation was 1.8% year over year.

Annualized inflation for 2014..1.4%

No matter how you slice it..inflation is not a factor.

Bob also spoke of how he has never in his life seen such a disconnect in what people perceive and how the economy is actually doing.

Record stock market increases..low inflation..record low mortgage rates..yet people still perceive things as being lousy in the economy.

Personally, I think the misery out there is due to other things..like no leadership from a horrible President..but Bob would never say anything like that...and may not believe it anyhow.

A very entertaining call came in about 35 or 40 minutes into the show.. from someone named Patrick.

Inflation will be whatever the government wants it to be.
It is measured by the prices of a weighted "basket" of goods.
If it measures too high, the basket is changed by re-weighting the things that went up or removing them altogether.

BillB wrote:Inflation will be whatever the government wants it to be.
It is measured by the prices of a weighted "basket" of goods.
If it measures too high, the basket is changed by re-weighting the things that went up or removing them altogether.

You would make for a very entertaining call as well.

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GFB wrote:

BillB wrote:Inflation will be whatever the government wants it to be.
It is measured by the prices of a weighted "basket" of goods.
If it measures too high, the basket is changed by re-weighting the things that went up or removing them altogether.

You would make for a very entertaining call as well.

Bill speaks the truth. Anything that goes up in price is removed from the inflation equation. The government rigged this 20 years ago. It's common knowledge.

Mark wrote:

GFB wrote:

BillB wrote:Inflation will be whatever the government wants it to be.
It is measured by the prices of a weighted "basket" of goods.
If it measures too high, the basket is changed by re-weighting the things that went up or removing them altogether.

You would make for a very entertaining call as well.

Bill speaks the truth. Anything that goes up in price is removed from the inflation equation. The government rigged this 20 years ago. It's common knowledge.

Why did they do that?

GFB wrote:Why did they do that?

To eliminate COLAs from Social Security...and to make the politicians look good.

Some of you are going to be especially entertaining when inflation actually returns.

Of course you've prepared, since you're fairly inflation obsessed..with various inflation protected investments..like "I bonds."

Mark wrote:

GFB wrote:Why did they do that?

To eliminate COLAs from Social Security...and to make the politicians look good.

Oh..well as someone who appears to be deeply concerned about entitlement spending..you're very glad about controlling or eliminating COLAs.

GFB wrote:

Mark wrote:

GFB wrote:Why did they do that?

To eliminate COLAs from Social Security...and to make the politicians look good.

Oh..well as someone who appears to be deeply concerned about entitlement spending..you're very glad about controlling or eliminating COLAs.

There are lots of other results of the misreported numbers that affect ordinary Americans in very negative ways.

Mark wrote:

There are lots of other results of the misreported numbers that affect ordinary Americans in very negative ways.

Ok, mind if I ask you to name a few?

And should I assume you've changed your position on entitlement spending?

GFB wrote:

Mark wrote:

There are lots of other results of the misreported numbers that affect ordinary Americans in very negative ways.

Ok, mind if I ask you to name a few?

And should I assume you've changed your position on entitlement spending?

Depressed wages for all Americans with a job is a good place to start.

And I am still against all entitlement spending.

Mark wrote:

GFB wrote:

Mark wrote:

There are lots of other results of the misreported numbers that affect ordinary Americans in very negative ways.

Ok, mind if I ask you to name a few?

And should I assume you've changed your position on entitlement spending?

Depressed wages for all Americans with a job is a good place to start.

And I am still against all entitlement spending.

Wages are not depressed, but they are barely rising .5% year over year.

But with little inflation, that helps the fact that wages have barely risen in 12 months.

And did you notice above, that core inflation, the one that takes out fuel and food..is actually 1/10th of a percent higher than inflation as a whole?

Sort of shoots full of holes, the theory of why those two things are left out

Believe what you want, but the cost of living goes up every year, much more than the mythical rate of inflation.

And many of us have not seen a pay increase in years.

Mark wrote:Believe what you want, but the cost of living goes up every year, much more than the mythical rate of inflation.

And many of us have not seen a pay increase in years.

And you think that has something to do with government lies?

Mark, you and I can ask for raises..if we don't get them..either the money's not there to give it to us..or we may have reached the peak earning ability at the that particular job.

Both businesses and individuals make important financial decisions based on bogus government numbers.
There has to be consequences to that.

Mark wrote:Believe what you want, but the cost of living goes up every year, much more than the mythical rate of inflation.

And many of us have not seen a pay increase in years.

And you know as well as I do, a pay increase is not an entitlement..unless you disagree with that.

I would suggest you and Bill are people that should consider going into business for themselves, if you believe you're this hurt by the decisions of others over your lives..government or non government people alike.

Like I said, you keep believing what you want. You have no idea how silly you sound when you defend the liars that control the government.

Mark wrote:Like I said, you keep believing what you want. You have no idea how silly you sound when you defend the liars that control the government.

Did you not notice I was going with your assumptions?