In response to:

Fed's Ivory Tower Just Got Smaller

Michael94 Wrote: Jan 31, 2013 10:19 AM
If I am not mistaken, the "official" inflation rate does not include energy prices and food, which is completely asinine. When the price of a "market basket" does not include the price of getting to and from work, the delivery of items to stores, the price of electricity, etc., and the price of food, and all of those prices are rising, then the rate of inflation is way underreported. While the government might not report this to the sheeple, the consumers of this country are not stupid. They know what their incomes are, and what their spending is, and they know the government is lying by omission. The same is true with their statistics on unemployment.
71 911E, TX Wrote: Jan 31, 2013 6:42 PM
What he said!!! I really was going to post the same things that you wrote, Michael, but now I don't have to.

Today's weaker than expected GDP report shows just how out of touch most professional economists remain with respect to the fundamental weakness of the US economy. After more than four years of nearly never ending monetary stimulus and more than $5 trillion worth of new federal debt, the economy remains stuck in a serious recession.

The report shows that federal stimulus and deficit spending can't create sustainable economic growth.

Although the tepid data shocked many economists, I was not surprised. I believe zero growth is consistent with the state of the real economy. The stronger growth numbers that we...