The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent in July 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.
This is “no indication of trouble”, right? 1.005 ^ 12 = 6.2% annualized inflation.
Not a problem, right?
What’s been flying upward? Gasoline, clothing, electricity and groceries.
You don’t need to buy any of those, right? You can hide out in things that aren’t going up much, like commodities less food and energy?
Oh, and Bernanke? He claims he wants to see 1-2% inflation despite clear language in The Federal Reserve Act that mandates stable prices. Well, how’s he doing?
The Consumer Price Index for All Urban Consumers (CPI-U) increased 3.6 percent over the last 12 months to an index level of 225.922 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment.
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 4.1 percent over the last 12 months to an index level of 222.686 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment.
Why did we have The Coinage Act of 1792 again? Oh that might be so that the common man doesn’t get screwed, blued and tattooed by those who would otherwise intentionally destroy his saved capital.
It’s time to bring it back, including the penalty clause, with sentences to be carried out in public on The National Mall.