The CPI: Widespread Misuse and Consequences

Unless you have closed your ears to radio and TV commentators for the past six months, you are aware that most of them are pooh-pooing the likelihood of US inflation anytime soon, notwithstanding the dramatic rise in the price of gold, copper and famous-painter art, to name a few channels in which the Big Money Players typically hedge against inflation. Commentators typically point to unemployment above 10%, plus a larger number of under-employeds, topped by a housing market with huge inventories and banks that won’t lend out their TARP money. All of that, they say, will force the Federal Reserve […] Read more »