Inflation Has Been Killing You for 40 Years. Why Are You Noticing Now?
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Far be it from me to carry water for the Biden Administration or to downplay the impact of inflation on working families as White House officials did in June when they dismissed rising prices as merely “transitory.” When 87% of Americans say they are very or extremely worried about higher prices, and one out of ten people say they can’t afford to buy holiday gifts this year, it’s a serious issue. Still, you can see why ruling elites are a little mystified by the collective freak-out, and it’s not just because they’re rich so they don’t care (although that’s true). Truth is, nothing new is happening. Real inflation has been soaring for four decades. What changed is the artificially-deflated official inflation rate. Which is why people are finally paying attention. Presidential administrations have repeatedly changed the methodology the Bureau of Labor Statistics uses to calculate the U.S. inflation rate. Why? Politics, of course. The government wants…
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