Welcome to debt-serfdom, the only possible output of the soaring cost of living for the unprotected many who are ruled by a hubris-soaked, subsidized Protected Elite.
The Consumer Price Index (CPI) measure of inflation is bogus on a number of fronts, a reality I’ve covered a number of times: though the heavily gamed official CPI is under 2% for the past four years, the real rate is 7% to 12%, depending on whether you happen to live in locales with soaring rents/housing and healthcare costs. The Burrito Index: Consumer Prices Have Soared 160% Since 2001 (August 1, 2016) Revealing the Real Rate of Inflation Would Crash the System (August 3, 2016) The Disaster of Inflation–For the Bottom 95% (October 28, 2016) But the other reality is that inflation is not evenly distributed throughout the economy or populace: many people have little exposure to the crushing inflation of healthcare and higher education. For these people, inflation is a non-issue or a minor impact on their wealth, income and lifestyle.
This post was published at Charles Hugh Smith on WEDNESDAY, MAY 24, 2017.
Follow on Twitter
Recent Comments