They aired a segment on National Propaganda Radio last night focusing on the whys/hows as to how there is a movement to revise the CPI again, because….and I swear on all that is holy that this is accurate and there’s a serious proposal on the table….
….the current methodology OVERSTATES INFLATION. I repeat, there are very serious people within the BLS, the Fed and other prestigious (??) institutions, that are actively pushing to have the BLS move to a “chain inflation” methodology of tabulating inflation. I know Tony did a comparison of prices of a major city’s price changes for common purchases beween the depth of the last recession and recently.
The inflation measure under consideration is called the Chained Consumer Price Index. On average, the measure shows a lower level of inflation than the more widely used Consumer Price Index.
The chained CPI assumes that as prices rise, consumers turn to lower-cost alternatives, reducing the amount of inflation they experience. For example, if the price of beef increases while the price of pork does not, people will buy more pork.
I have a better idea: If you’re cold, just sleep outside in the snow, and you’ll fall into a warm lull harkening death. That’ll cut expenses. Substitute that. If you’re hungry, instead of buying and eating food, don’t. You’ll really save some money that way. Screw medical coverage/treatment and driving. You don’t really need to see the doctor & you can walk to wherever your going – cha-ching, money in the bank.
This tells me (this being this noisy announcement via National Propaganda Radio) that they are floating this to see how much backlash there will be and to prepare the our minds, B.F. Skinner style, for more, bigger lies and such.