US Inflation 11.6%

US Inflation Soars to 11.6%

Anyone arguing that the government is telling the truth about inflation is a fool, a liar, or both.

A trend we've observed over the past couple of decades has been an increasingly obvious tendency for the US government to lie to achieve its objectives. From WMDs to economic statistics, the government has "come out of the closet" and simply produced bald-faced reports which are filled with ever more transparent lies.

Last week, the latest in a long line of incredible (meaning, unbelievable) statements was produced by those inveterate liars at the US Government's Bureau of Labor Statistics: the Consumer Price Index. The liars in government will never tell us the true inflation rate. Since the politicians started mandating that government agencies lie about the true inflation rate, radical changes to the way the CPI is calculated have produced a much lower number than the real number. If we used the methodology for calculating CPI inflation last used in 1983, the current inflation rate is 11.6%. After 1983 and before further changes in 1998, the current rate would be 7.3%. The government liars now tell us the rate is just "4.0%."

Inflation is clearly out of control right now. For example, the government tells us that the price of gasoline fell in April. The wholesale price of gasoline, in fact, rose 28.32¢ from the end of March to the end of April, constituting a rise of 10.8% in just one month, based upon actual prices recorded in nearby gasoline futures traded in the open market.

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