Thursday, June 23, 2011

Expect inflation to "drop" unexpectedly...

...providing a dollop of good news for President Obama to campaign on.

Sounds crazy, when you can go broke between a weekend fill-up and a supermarket stop, but it's true.  Or it will be true, as soon as the Obama Administration finishes its plan to change the Consumer Price Index (CPI) to reflect reality as they wish it to be seen.  John Crudele at the New York Post has done excellent reporting in the past on the administration's tampering with the unemployment numbers, so I'd heed his warning here:

Yesterday, it was reported that Biden is leading a group of White House aides who are proposing changes to the Consumer Price Index that measures inflation. The group figures that it will re-word how inflation is described so that when people change their buying habits because of higher costs it tamps down the CPI.

My first point: this is dishonest. My second point: Biden should know that this is already being done. It's called "geometric weighting," has been used for more than a decade (and written about in this column extensively) and does absolutely nothing except cheat senior citizens out of their Social Security cost of living increases.

...and then they'll campaign by demagoging the Republicans as the party that wants to force the elderly to starve.

Man, George Orwell was a piker compared to Obama's Ministry of Truth....

1 comment:

LibertyAtStake said...

Re: COLA update gamesmanship: Perhaps the Vast Right Wing Conspriracy should produce an add showing Crazy Uncle Joe wheeling grandma off the cliff.

"Because the Only Good Progressive is a Failed Progressive"