Whatever man. Reject what you want. You made some baseless claim about "so many" feeling Obama is the worst president in the US and that I guess the left wonders why. Well I completely reject your statement as being accurate or useful to this thread. It isn't.
Terrible performance. They abrogated their responsibility to make you money on gold. Sure, they made you rich from your stocks, but we're talking about gold.
You say that high inflation is already here, but isn't captured by inflation statistics. You obviously don't know that when there's high inflation, everyone knows. It can't be hidden by some flaw in measurement. You claim that economists do not include basic necessities in their measures of inflation. Do you think they just forgot? Good thing you're here to remind them. Or are you just being a hack, calling someone a hack. As if we don't know.
I think they measure inflation through a number of calculations. The one they're reporting most is the one most favorable to the current administration. If a loaf of bread cost $1 when Obama took office but is now $5, obviously people are affected aversely. If you average in the cost of mortgage payments, which only affect property owners, the weighted average of the two costs might be marginally higher instead of 5x.
And what do you know? 3.1% inflation is actually pretty high - especially when the banks are paying you < 1% on your savings account. http://www.policymic.com/articles/4...e-u-s-be-as-insolvent-as-greece/category_list CBS News recently reported that the rate of inflation, as calculated by the American Institute for Economic Research (AIER), clocked in at a whopping 8% over the past year. This number is in stark contrast to the relatively modest inflation rate of 3.1% being reported by the government’s Bureau of Labor Statistics. The AIER calculates what they refer to as an Every Day Price Index (EPI). The EPI only looks at the cost of goods the average household buys every month and factors in only those costs which are subject to price fluctuation. For example, mortgages are typically stable over the course of a year so those numbers are ignored. They wouldn’t change unless a person moves or refinances, so they don’t act as a good measure of inflation from month to month. Another measure of inflation comes from John Williams’ Shadow Stats. Williams calculates the consumer price index (CPI) using the same model as the government did prior to 1990. Williams also calculates the CPI using the same model as the government did prior to 1980. In each case, the government changed the way it calculated inflation in order to give the appearance of less inflation. If we calculate the inflation rate the exact same way the government did prior to 1990, the inflation rate is averaging around 6.5%, which is basically double the official rate. However, if we measure inflation the same way the government did back prior to 1980, the inflation rate clocks in at a mind-numbing 11%.
