The US government has been lying to the American people for years.
The simple truth is that the elites are hiding just how bad the economy has been for everyday Americans over the past few decades.
However, in 1980, the Fed altered its calculation for the CPI to no longer measure a constant “basket of goods” but instead utilized a hedonistic, strategic group of goods to measure inflation. The Fed further utilized theory to offset real-world numbers.
For example, if a new car produced by Ford Motor company in 1986 theoretically cost $11,250, but the improved model in 1987 offered 10% better gas mileage at a price 5% higher, the CPI would reflect a reduction in the cost of new automobiles in 1987. The resulting report would reflect a 5% drop in new car pricing without accounting for the 5% increase in consumer cost.
Tom Elliott also put an amazing thread on Twitter explaining what is going on:
BREAKING: U.S. annualized inflation just peaked 17 percent for the first time since WW2, the highest rate in 75 years.
The media are misreporting the real data, and I’ll explain why. 1/ pic.twitter.com/ab8VP0a2H5
— Tom Elliott (@tomselliott) June 10, 2022
(removing the gold standard, removing the gold peg, suppressing interest rates as "stimulus," printing money directly into the Treasury, etc.). All of these are inflationary, and prices rose far more in the 20th century vs. the largely deflationary 19th century. 3/
— Tom Elliott (@tomselliott) June 10, 2022
basket of goods"; now, via "hedonics," the Fed would, for example, use tech improvements to offset rising prices (i.e., if a computer is 25 percent faster than the year prior but the price remained the same, the Fed claimed a 25 percent price drop in generalized … 6/
— Tom Elliott (@tomselliott) June 10, 2022
This leads us to the modern-day. What was the real inflation rate in May? That number according to Shadow stats is 16.8% – remember the number given by the government for May 8.6%. That means it is double what is being said.
May 2022 Annual CPI Inflation of 8.6%, and Annual ShadowStats Alternate “Corrected” CPI Inflation of 16.8% jumped to respective new 41- and 75-year historic highs, on top of rebounding gasoline prices.
It is time for this to be talked about. Everyday Americans are hurting and rather than fixing the problems the government messes with the statistics to make it seem like it isn’t happening.
The Palmieri Report is a Pro-America News Outlet. The Palmieri Report is dedicated to giving people the truth so that they can form their own informed political opinions.
Follow us on social media:
Follow our Rumble for daily uploads
Listen to our Daily News Podcast!
