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Coffee Shop
Is the middle class gone and am I poor?
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<blockquote data-quote="inyati13" data-source="post: 1335606" data-attributes="member: 17767"><p>Inflation is based on the CPI. Which is an index of a select group of consumer items. Congress with the support of the US Treasury has manipulated the formula for the government inflation rate for many years. The motive is not sinister, it is to hold down interest rates. For example, food is a CPI item. Food prices are low in the US because of government manipulation. Thus, how can the CPI be accurate. We could hold a conference on the manipulation of food prices. Our government is not much different from Zimbabwe except our politicians are more sophisticated. Here is an excerpt from Wikipedia. If you delve into it, it becomes obvious how our government has sifted out consumer items to reduce reported inflation. Thus the calculations provided in the posts above based on an inflation input are faulty.</p><p></p><p> <strong>The Consumer Price Index of 158 indicates 58% inflation since 1982, while a CPI index of 239 would indicate 139% inflation since 1982. The commonly quoted inflation rate of say 3% is actually the change in the Consumer Price Index from a year earlier. By looking at the change in the Consumer Price Index we can see that an item that cost an average of 9.9 cents in 1913 would cost us about $1.82 in 2003, $2.02 in 2007, $2.33 in 2013 and $2.39 in 2016.</strong></p></blockquote><p></p>
[QUOTE="inyati13, post: 1335606, member: 17767"] Inflation is based on the CPI. Which is an index of a select group of consumer items. Congress with the support of the US Treasury has manipulated the formula for the government inflation rate for many years. The motive is not sinister, it is to hold down interest rates. For example, food is a CPI item. Food prices are low in the US because of government manipulation. Thus, how can the CPI be accurate. We could hold a conference on the manipulation of food prices. Our government is not much different from Zimbabwe except our politicians are more sophisticated. Here is an excerpt from Wikipedia. If you delve into it, it becomes obvious how our government has sifted out consumer items to reduce reported inflation. Thus the calculations provided in the posts above based on an inflation input are faulty. [b]The Consumer Price Index of 158 indicates 58% inflation since 1982, while a CPI index of 239 would indicate 139% inflation since 1982. The commonly quoted inflation rate of say 3% is actually the change in the Consumer Price Index from a year earlier. By looking at the change in the Consumer Price Index we can see that an item that cost an average of 9.9 cents in 1913 would cost us about $1.82 in 2003, $2.02 in 2007, $2.33 in 2013 and $2.39 in 2016.[/b] [/QUOTE]
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Is the middle class gone and am I poor?
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