In the latest Schiff Report, Peter Schiff discusses a topic regular SD readers are familiar with- the government’s manipulation of public perception of inflation due to the bogus CPI statistic.

Schiff states that The CPI is no longer a tool to accurately measure inflation, but an instrument of propaganda the government uses to hide accelerating inflation from the public and financial markets. Modest CPI increases over the past several years do not reflect an absence of inflation, but a design flaw in the index that fails to fully capture the magnitude of price increases. Central bankers drawing economic conclusions regarding inflation and monetary policy based on this highly flawed data point are making a major policy error.

Schiff’s full report below:

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  1. Any good housewife worth her salt who shops for food in the grocery store can tell you beyond a shadow of a doubt that inflation is higher than 2%.  A conservative guess, would be 10% in the grocery store.  To accelerate in 2013?  Absolutely.  What are they going to say?  3% food inflation for 2013?  Give me a break.

    • “What are they going to say?  3% food inflation for 2013?  Give me a break.”
      Yep and that’s a 50% upward adjustment from the 2% inflation they’ve been claiming we have.  At this rate, in about 7 years they will have actually reached the REAL inflation rate at that time!  X-[

    • “Sooner or later the people are going to wake up and explode.”
      Nah, sheeple never explode.  Their fuse is short and wet, so maybe there will be a few tiny sparks, a small “pfftt!” sound, and a nearly invisible puff of smoke but no blast to speak of.  Maybe if we feed ’em beans for a week first?  lol

  2. I’m amazed how many people still trust government numbers. I had a debate a while back where the guy used government numbers to in his argument to prove there was no inflation and that money printing was just what the doctor ordered. I simply asked him if he had been to the gas station of grocery store lately. Moron.

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