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EScroogeJr (< 20)

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May 14, 2008 – Comments (6)

I'm late to comment on this, and didn't have time yet to absorb other players' responces (which I'm sure will be as plentiful as the unreported M3 supply), but my first gut reaction is we're back in the USSR, with official statistics reporting that the citizens' well-being grew another percentage point on increased production of pig iron. So they're telling us that inflation is slowing down? To mere  0.2% per month? That it's less in April than it was in March? Well, here's my take on this: I will not believe these numbers even if they show me all the input data with each data point signed and rubber-stamped by PriceWaterhouse Coopers, Ernst&Young and Arthur Anderson. My only question how long will it take before the Bureau of Labor Statistics loses all vestiges of credibility.

6 Comments – Post Your Own

#1) On May 15, 2008 at 1:02 AM, misterpickles (< 20) wrote:

This adminstration is trying to run out the clock and will fudge numbers until the next adminstration takes office. We will be paying for the Bush adminstration's mismanagement the rest of our lifetimes.

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#2) On May 15, 2008 at 1:42 AM, ateet (< 20) wrote:

this is good

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#3) On May 15, 2008 at 7:43 AM, ATWDLimited (< 20) wrote:

Come visit my blog, for some scarry facts about the infaltion and the dolllar vs the phony governmental figures.

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#4) On May 15, 2008 at 9:48 AM, Evlampius (< 20) wrote:


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#5) On May 15, 2008 at 10:13 AM, mandrake66 (72.37) wrote:

I was reading some interesting comments on inflation recently on one of the 'usual suspect' blogs (mish, naked capitalism, calculated risk, krugman, roubini, can't remember which but I'll try to find it) that calculating a meaningful rate of inflation for anyone, anywhere in the world right now is nearly impossible, which I agree with. There is so much inflation (food and energy), non-inflation (PCs, televisions, etc), and deflation (houses and many financial assets) simultaneously across so many different consumables and asset classes that a single number is pretty much meaningless, ie that there simply is no meaningful basket of goods that could be used as indicative.

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#6) On May 15, 2008 at 11:25 AM, Imperial1964 (93.97) wrote:

Does anybody believe that gasoline prices went down?  They reported that nominally they were up, but after the "seasonal adjustment" gas prices were down month over month.

What a crock of crap.

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