{"id":66352,"date":"2023-12-14T07:29:03","date_gmt":"2023-12-14T12:29:03","guid":{"rendered":"https:\/\/olduvai.ca\/?p=66352"},"modified":"2023-12-14T07:29:03","modified_gmt":"2023-12-14T12:29:03","slug":"inflation-in-real-life-much-worse-than-in-government-fantasy-world","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=66352","title":{"rendered":"Inflation in Real Life Much Worse Than in Government Fantasy World"},"content":{"rendered":"

Inflation in Real Life Much Worse Than in Government Fantasy World<\/a><\/h3>\n
\"\"<\/a><\/div>\n

Inflation is dead!<\/p>\n

At least that\u2019s what you would think if you listen to government officials and talking heads in the financial media.<\/p>\n

So, how is this victory over inflation working out for the average person?<\/p>\n

Not so great.<\/span><\/p>\n

Based on\u00a0official CPI data<\/a>, price inflation has cooled somewhat, although it remains far above the Federal Reserve\u2019s 2% target. That hasn\u2019t stopped President Biden and most of the mainstream financial media from declaring victory over rising prices.\u00a0Biden even suggested<\/a>\u00a0that companies should start cutting prices since inflation is falling.<\/p>\n

It\u2019s important to remember that even if we believe the government numbers and price inflation is cooling, that doesn\u2019t mean consumers are getting any relief.<\/p>\n

Prices are not falling. They\u2019re just going up slower than they were six months ago.<\/p>\n

And those price increases are cumulative. Since January 2022, prices have risen 9.7% based on the CPI. And\u00a0the CPI is designed to understate rising prices<\/a>.<\/p>\n

In other words, we\u2019re all still coping with much higher prices no matter what the latest CPI report says. And the suffering is far worse than sterile BLS reports indicate.<\/p>\n

This becomes clear when we go out in the real world and stop listening to news people spouting government numbers.<\/p>\n

Ironically, we can learn more about the actual impact of inflation from the movie\u00a0Home Alone<\/em>\u00a0than we can from some guy on CNBC droning on and on about the CPI.<\/p>\n

In this 1990 classic, 8-year-old Kevin McCallister\u2019s family went on a holiday trip to Paris and accidentally left him alone in his house. Chaos ensues.<\/p>\n

You may recall that after realizing he\u2019s alone, Kevin makes a trip to the grocery store. After all, a kid has to eat.<\/p>\n

\u2026click on the above link to read the rest\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Inflation in Real Life Much Worse Than in Government Fantasy World Inflation is dead! At least that\u2019s what you would think if you listen to government officials and talking heads in the financial media. So, how is this victory over inflation working out for the average person? Not so great. Based on\u00a0official CPI data, price […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[15374,172,13351,18779],"class_list":["post-66352","post","type-post","status-publish","format-standard","hentry","category-economics","tag-consumer-price-inflation","tag-cpi","tag-price-inflation","tag-schiffgold"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66352","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=66352"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66352\/revisions"}],"predecessor-version":[{"id":66353,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66352\/revisions\/66353"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}