Sounds like an Alfred E. Neuman cartoon from a long-ago Mad Magazine: What, me worry? But the latest government numbers say ... economically speaking, we're doing just fine. Great, in fact.
"Just spent a record high amount at the gas pump for this time of year? The BLS says you didn't, and after all when it comes to reality, the BLS has a right of first refusal," writes an economist for Zerohedge. "The just printed headline CPI came at 0.4%, just in line with expectations of 0.4%, while core CPI of 0.2%, missed expectations of 0.3%. That's right: not only is inflation meaningless, it is less than expected."
What about those pesky gas prices, you say? Or how 'bout the most recent surge in grocery prices -- just your imagination?
"Luckily," the economist continues, "those can be hedonically adjusted by everyone to virtually zero."
Whew, what a relief. For a moment there, seemed as if prices were soaring.
"Just spent a record high amount at the gas pump for this time of year? The BLS says you didn't, and after all when it comes to reality, the BLS has a right of first refusal," writes an economist for Zerohedge. "The just printed headline CPI came at 0.4%, just in line with expectations of 0.4%, while core CPI of 0.2%, missed expectations of 0.3%. That's right: not only is inflation meaningless, it is less than expected."
What about those pesky gas prices, you say? Or how 'bout the most recent surge in grocery prices -- just your imagination?
"Luckily," the economist continues, "those can be hedonically adjusted by everyone to virtually zero."
Whew, what a relief. For a moment there, seemed as if prices were soaring.
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