Greenspan is doing the bidding of the elitists once again (as he did when he sold out on the gold standard).
The CPI is substantially understated. The *real* rate of inflation is anywhere from 6% to 10% depending on who you ask.
They started tweaking with the CPI in the 80s to make the economic numbers look better. Then in the 90s, they totally changed the way they computed it by using hedonics, substitution, and other games.
This was a stealth tax increase on Americans. Democrats knew they could not raise taxes and get re-elected. Republicans realized they couldn't cut benefits and get re-elected. So they took the path of least resistance, which was to inflate the money supply relative to the increase in federal benefits. But the clowns still can't manage to balance the budget even after cheating the people.
Also, understating CPI makes the GDP numbers look much better than they really are since the numbers are adjusted for inflation.
Stuff is way more expensive over the last decade or so. Yet they say there is no inflation. What a crock.
And last week the fed decided that the monthly M-3 data was no longer important, and decided to discontinue reporting it.
Nothing to see folks, move along....
So, the general level of prices is rising 6% to 10%? And you're the only one who noticed? Wow, you're good!