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Why offcial CPI is bunk

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  • Why offcial CPI is bunk

    Peter Schiff explains why the CPI is likely false, why government relies on this false metric to measure inflation, and why inflation is likely much higher (likely in the double digits already). He outlines this at 35:36, but if you just want to get to his laundry list of reasons why government lies about it and how it benefits them, it starts at about 39:00...

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  • #2
    The government has been playing games for years hiding the real rates of things like inflation and unemployment.

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    • #3
      Originally posted by rogue06 View Post
      The government has been playing games for years hiding the real rates of things like inflation and unemployment.
      At a guess, about 30 years, if there is any alignment between the systems in Australia and America. Here, it was then that such things as housing prices and rentals, and (I think) fuel costs (you know - the things that have the greatest immediate impact on the cost of living) were removed from the CPI calculations.
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      • #4
        Originally posted by rogue06 View Post
        The government has been playing games for years hiding the real rates of things like inflation and unemployment.
        This is true, only these facts seem to change on a partisan basis depending upon which partisan side is ruling the WH at the time. But these facts about skewed economic data remain the same regardless of who's in the WH, and they've been magnified ever since the crash of 2008.
        "What am I doing here?" -- Joe Biden 2021

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        • #5
          This video is actually much better and more in-depth about the CPI and inflation. In the first 32 minutes Schiff explains how the government disguises inflation in the CPI number, the faulty metrics they use and metrics they used to use that they don't use anymore.

          A lot of people know about "shrinkflation," where the quantity or quality of a product or service diminishes that allows the company to save money without raising prices, something the CPI obviously doesn't measure. But there's also home prices and "owners equivalent rent" that skews the inflation number and he goes into detail about.

          Then around the 32 minute mark he reiterates why a low CPI number benefits the government, and goes into more detail here than the first video. Yes, there are a few short commercial breaks that are kind of annoying, but the information he gives is worth it IMO...

          "What am I doing here?" -- Joe Biden 2021

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          • #6
            Originally posted by seanD View Post
            This video is actually much better and more in-depth about the CPI and inflation. In the first 32 minutes Schiff explains how the government disguises inflation in the CPI number, the faulty metrics they use and metrics they used to use that they don't use anymore.

            A lot of people know about "shrinkflation," where the quantity or quality of a product or service diminishes that allows the company to save money without raising prices, something the CPI obviously doesn't measure. But there's also home prices and "owners equivalent rent" that skews the inflation number and he goes into detail about.

            Then around the 32 minute mark he reiterates why a low CPI number benefits the government, and goes into more detail here than the first video. Yes, there are a few short commercial breaks that are kind of annoying, but the information he gives is worth it IMO...

            Thanks for posting those. He had a short segment with Tucker, but I didn't catch his name, and Tucker didn't post the clip, so it was hard to follow up on it.
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