This morning the Bureau of Lying Statistics issued their latest report on CPI and as usual, the Bubblevisions celebrated it with on air parties like it was 1978:
The reality?
Inflation is not under control as the Federal Reserve Bank of Atlanta released their data also and the “Sticky CPI” is demonstrating that the Bubblevisions only mission is to pump equities, not report reality:
A slight roll over from last month to 6.1% is not that great. In fact, using the BLS data, one can see that some of the most common foodstuffs are still indicating persistent inflation embedded in the economy is a major issue.
To finish, here are some selected categories that are not seasonally adjusted (my preferred reference point due to hedonic games) where the necessities the middle to lower class can not live without but are paying more for (From BLS release, June 13, 2023 – Table 2. Consumer Price Index for All Urban Consumers (CPI-U): U.S. city average, by detailed expenditure category, May 2023):
Thankfully poor people do not need to eat at home, eat cereal, bread, or bake anything.
But don’t tell Janet or Senile Joe this, they might encourage more abortions to save money and reduce inflation.
Basically, if you live under a bridge and make your wife or girlfriend have a government funded abortion while only eating leftovers, inflation is no big deal.
One can not live in their car under the bridge either. Way too expensive.
There is the taste of reality that economists, television hucksters, and political elites gloss over and do not care about even though it punishes the middle and lower classes of American society. Things that people need, use, consume, etc. are not dropping in price and in fact, appear to be enduring embedded inflation on an annualized basis.
The seasonally adjusted numbers are nothing more than political voodoo that are modified using the hedonic scoring of the new math statisticians, thus why I dismiss them out of hand. The non-seasonally adjusted numbers in conjunction with the Atlanta Fed’s report demonstrate that inflation has become embedded and is not remotely under control.
Thus opening the door for another Fed blunder tomorrow, just like the 1970’s.
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