Does Anybody Believe Government (Statistics) Anymore?

Posted: May 9, 2008 in Your Money
Tags: , , , , , , , , ,

” The New York Times’ consumer reporter, W.P. Dunleavy, wrote on May 3 that his own groceries now cost $587 a month, up from $400 a year earlier. That’s a 40 percent increase. … Oil is up over 80 percent in the last twelve months. … Therein lies the danger. If the current inflation rate is really 6-9 percent instead of the 2-3 percent claimed by government … would identify an economy that was deteriorating and shrinking, not growing. “
My 2-Bits: Personally I think John Williams over at ShadowStats.com is the closest to reality at 10%+. BTW, blatant government lies about critical economic statistics as one of the warning signs of hyperinflation.
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