Looks like Glenn Beck is right on Inflation

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You need flour to make bread, where are they going to get the flour from, oh that's right they need the grain from the midwest and several states in the Great Plains.

@ pandabear

The CPI does not include food and energy costs when they calculate inflation as I've already pointed out.

Furthermore, I am aware the US mint prints money to replace money that is worn out (and the worn out money is destroyed), that is substancially different from Quantitative Easing.

Yes. No-one has argued otherwise.


Wow! You're a smart one today!

Okay you seem to be rather slow here. While the CPI doesn't include the increase in food and energy prices, these two items have the most effect on consumer pocketbooks. So while they are claiming there is no inflation, if those items have increasing prices they are the most crippling.

Okay you seem to be rather slow here. While the CPI doesn't include the increase in food and energy prices, these two items have the most effect on consumer pocketbooks. So while they are claiming there is no inflation, if those items have increasing prices they are the most crippling.

The Consumer Price Index for All Urban Consumers (CPI-U) increased
0.2 percent in May on a seasonally adjusted basis, the U.S. Bureau of
Labor Statistics reported today. Over the last 12 months, the all
items index increased 3.6 percent before seasonal adjustment.

The index for all items less food and energy increased 0.3 percent in
May, its largest increase since July 2008. The indexes for apparel,
shelter, new vehicles, and recreation all contributed to the
acceleration, rising more in May than in April. These increases more
than offset declines in the indexes for airline fare, tobacco, and
personal care.

The food index rose in May as well. The food at home index repeated
its April increase of 0.5 percent as four of the six major grocery
store food group indexes increased, with the index for meats,
poultry, fish, and eggs rising the most. In contrast, the energy
index, which had been rising sharply, declined in May. The gasoline
index decreased for the first time since last June, although the
index for household energy increased.

The upward trend among the 12 month increases of major indexes
continued in May. The 12 month change in the all items index, which
was 1.1 percent as recently as November, reached 3.6 percent in May.
The energy index has increased 21.5 percent over the last 12 months,
the food index has risen 3.5 percent and the index for all items less
food and energy has increased 1.5 percent. All of these figures have
been rising in recent months.

Sorry, no-one is claiming "no inflation." Read the report again.

I wasn't claiming that they were saying there was no inflation, I'm saying inflation is worse than they are admitting.

as I said.....

This was the hyperinflation thread, where you claimed that Glenn Beck had correctly forecasted that a loaf of bread was going to cost a million books.

I'm sure that Glenn Beck's forecast of the $5 per gallon for gasoline already took into consideration both Greece's economic woes and the flooding of the market with strategic petroleum reserve.

The government retaining a reserve, and then releasing it when petroleum prices are high, are nothing more than Keynesian economics on display.

So, you're admitting that Glenn Beck was wrong. Congratulations on attaining enlightenment.

Actually he isn't wrong, we're about to go down hill if something doesn't change and the kooks in Washington don't get their spending under control.