Friday, January 11, 2013

Peter Schiff: Inflation propaganda exposed

“The CPI is no longer a tool to accurately measure inflation,” says Peter Schiff in his latest video blog, “but an instrument of propaganda the government uses to hide accelerating inflation from the public and financial markets. Modest CPI increases over the past several years do not reflect an absence of inflation, but a design flaw in the index that fails to fully capture the magnitude of price increases. Central bankers drawing economic conclusions regarding inflation and monetary policy based on this highly flawed data point are making a major policy error.”

Have prices been inflating in recent years? While they do their best to ignore the effect of monetary expansion on house and stock prices, if alleged economists like Paul Krugman bought their own damned groceries sometimes they might better appreciate that they have been.

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