In spite of the often-heard mantra that "inflation wipes away debt", I suggest otherwise. Income typically does not keep up with expenses, and most have too few assets to inflate. The poor (last on the credit totem pole) overpay for their assets with cheap credit given to them at precisely the wrong times.
Inflation is expected to run well above the Bank of England target rate of 2% for another two years in the UK. Don't worry it's a self-inflicted goal.
For the past few years, the Fed has maintained that the U.S. inflation rate, which is represented by the Consumer Price Index, or CPI, has hovered around two percent. Most consumers who buy food, goods and services such as health in the real world, will find this figure derisory.
The New York Times mobile app sent me a breaking news update Wednesday morning: "U.S. Economy Unexpectedly Contracted in Fourth Quarter." Based on high government third-quarter spending and government policies and politics occurring during the fourth quarter, the slowdown should come as no surprise.
With all the talk about taxing the rich, we hear very little talk about taxing the poor. Yet the marginal tax rate on someone living in poverty can sometimes be higher than the marginal tax rate on millionaires.
Today, just three weeks away from 2013, there is reason to believe that our President and his Administration – and perhaps his party, as a whole – is “embracing” recession, as though it is an appropriate means to a necessary end.
Amid all the political and media hoopla about the "fiscal cliff" crisis, there are a few facts that are worth noting.
WASHINGTON - If you thought the presidential election would lead to an early break in the fiscal gridlock that now divides our government, think again.
For investors looking to find a safe haven for their money, QE3 Plus is a strong signal that the price of gold and silver are a long way from their peaks.
Once again note that hyperinflation is essentially a political event. Weimar Germany was triggered by war reparations, Zimbabwe by confiscation of property accompanied by capital flight (including human capital), and Iran by US and European embargoes (a clear act of war).
It’s astounding how quickly things can change over four years.
The federal government – actually, the Bureau of Labor Statistics (BLS) – just announced that the inflation rate for the year ending July 2012 was 1.4% Most of us had to rub our eyes in disbelief when we saw this number; have these people not entered a supermarket recently? How could they possibly release such a figure with prices skyrocketing all over? Which brings us to Ed Butowsky, who has had enough of what he believes are misleading numbers and has decided to do something about it.
So the government says there is no price inflation and so no COLA for you, retirees. Retirees know better and so does John Williams at Shadowstats, who says prices are increasing at a 10 percent rate.
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