Wednesday, May 16, 2007

The Boskin Lie: "Core" Inflation

You have to follow the link to see the chart, which is astounding.

Normal people know that 'there's a lotta inflation goin' on out there' (to paraphrase a Lefty retired US Senator.)

Somehow or other, that inflation doesn't show up in the "core" numbers. Oh, the "headline" shows it--because the "headline" includes food and fuel, which normal people actually buy regularly.

The "core" number was created by the Boskin Commission--a Clintonoid effort to reduce Social Security payments--but has never been revised by the Bush Boyzz despite its obvious dissonance with reality-based purchase experiences.

Another small project for the Fred!! Administration to take on.

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