Somebody please do me a favor and post the BLS link explaining how the CPI-U includes food'n'energy. This is giving me a headache...
The official numbers are a crock, of course, excluding food and energy as they do [not to mention equities]. The Shadowstats figures of around 7% or 8% are probably pretty good.
That isn't "run away hyperinflation" to be sure, but 7% or 8% price inflation is very damaging. Tell me, why do you defend pumping money into the country that no one had to work for or produce something tangible for?
Citizens and businesses must work to earn money [unless, of course, they're on welfare and someone else works in their place]. When the Fed prints more money and gives it to the banks to spend, it is expecting that these dollars created out of nothing compete for goods and services with the same money we had to get up in the morning and work for.
The money we had to mortgage our houses to start a new business with.
The money we had socked away for retirement or maybe a house.
The money we buy groceries with.
The new money now competes with ours and drives prices higher. How can you possibly defend that?
Somebody please do me a favor and post the BLS link explaining how the CPI-U includes food'n'energy. This is giving me a headache...