The government admitted that inflation hit 4.1% in 2007. However the real number is likely over 10%.
Just using the government's own pre-1992 measurement criteria, and inflation is 8%. Yet nobody bothers to report that, since that would be against the government talking points of course.
Bottom line - the Fed hates you. If you earn, save or spend US dollars, you're in a heap of trouble. And Bernanke, Congress and Bush are all just gonna make it worse. They hate you too.
Inflation Rate Is Worst in 17 Years - Higher Costs for Energy and Food Push Inflation Rate Up by Largest Amount in 17 Years
Consumer prices rose by 4.1 percent for all of 2007, up sharply from a 2.5 percent increase in 2006, the Labor Department said Wednesday. Consumers felt the pain when they filled up their gas tanks or shopped for groceries. Prices for both energy and food shot up by the largest amount since 1990.
January 17, 2008
The government can no longer hide the fact that inflation is roaring. And remember, Bernanke hates you.
Posted by blogger at 1/17/2008