Help is out there.

Please Call.


Search
 
 

Display results as :
 


Rechercher Advanced Search

C-Span Live


Who is online?
In total there is 1 user online :: 0 Registered, 0 Hidden and 1 Guest

None

Most users ever online was 51 on Thu Feb 17, 2011 2:04 pm

US inflation rate using Volcker-Era methodology Nearing 10%

View previous topic View next topic Go down

US inflation rate using Volcker-Era methodology Nearing 10%

Post by Guest on Wed Apr 13, 2011 12:39 pm

US inflation rate using Volcker-Era methodology Nearing 10%

After former Federal Reserve Chairman Paul
Volcker was appointed in 1979, the consumer price index surged into the
double digits, causing the now revered Fed Chief to double the benchmark
interest rate in order to break the back of inflation. Using the
methodology in place at that time puts the CPI back near those levels.



Inflation,
using the reporting methodologies in place before 1980, hit an annual
rate of 9.6 percent in February, according to the Shadow Government
Statistics newsletter.
Since
1980, the Bureau of Labor Statistics has changed the way it calculates
the CPI in order to account for the substitution of products,
improvements in quality (i.e. iPad 2 costing the same as original iPad)
and other things. Backing out more methods implemented in 1990 by the
BLS still puts inflation at a 5.5 percent rate and getting worse,
according to the calculations by the newsletter’s web site,
Shadowstats.com.

http://www.cnbc.com/id/42551209

Guest
Guest


Back to top Go down

Re: US inflation rate using Volcker-Era methodology Nearing 10%

Post by mrgolf on Mon Apr 18, 2011 1:23 am

Correct me if I'm wrong but I don't think gasoline is figured into the current infltion rate
avatar
mrgolf
Monster Poster

Posts : 4049
Join date : 2011-02-13
Location : Santa Rosa, California

Back to top Go down

Re: US inflation rate using Volcker-Era methodology Nearing 10%

Post by elvis44102 on Mon Apr 18, 2011 10:14 am

by mrgolf Today at 1:23

""Correct me if I'm wrong but I don't think gasoline is figured into the current infltion rate""

More useless statistics.....
I don't think gasoline OR food are calculated into this statistic..
For the person living on their last 100$ food and gas are a significant expense, (maybe the only one)

This is about as bad an indicator as our trustworthy stockmarket is as an indicator of the countries economic health....

We can make up all kinds of statistics and manipluate numbers over, under and sideways....to prove whatever we wish....

The problem is when those in Ivory towers make desicions that affect us all basied upon these "indicators"
avatar
elvis44102
Elite Poster

Posts : 574
Join date : 2011-02-12

Back to top Go down

Re: US inflation rate using Volcker-Era methodology Nearing 10%

Post by mrgolf on Mon Apr 18, 2011 11:27 am

I bet phillymg would know if gas and food were included in the inflation rate. IMO it should be. I tried googling the answer but I can't find the answer
avatar
mrgolf
Monster Poster

Posts : 4049
Join date : 2011-02-13
Location : Santa Rosa, California

Back to top Go down

Re: US inflation rate using Volcker-Era methodology Nearing 10%

Post by Guest on Mon Apr 18, 2011 12:36 pm

mrgolf wrote:I bet phillymg would know if gas and food were included in the inflation rate. IMO it should be. I tried googling the answer but I can't find the answer

Food has to be. I dont know about gas but as a catagory of energy, it probably is but blended in with natural gas, electricity, etc

Guest
Guest


Back to top Go down

Re: US inflation rate using Volcker-Era methodology Nearing 10%

Post by elvis44102 on Mon Apr 18, 2011 12:52 pm

you and I would THINK food is important, however

CPI
The core CPI index excludes goods with high price volatility, such as food and energy

http://en.wikipedia.org/wiki/United_States_Consumer_Price_Index
avatar
elvis44102
Elite Poster

Posts : 574
Join date : 2011-02-12

Back to top Go down

Re: US inflation rate using Volcker-Era methodology Nearing 10%

Post by JaneWI on Mon Apr 18, 2011 12:56 pm

"The "Core CPI" which is what is widely cited in press releases does not include (volatile) food and fuel prices. They were omitted because of (claimed) volatility distorting readings, but many think it was to keep down the COLA adjustments that the government pays in so many places."

http://mariotti.blogs.com/my_weblog/

Investor confidence takes a hit

"The U.S. Bureau of Labor Statistics reported that the consumer price index slipped 0.1% in April. The core CPI, which excludes volatile food and fuel prices, was flat."

http://money.cnn.com/2010/05/19/markets/premarket/index.htm
avatar
JaneWI
Monster Poster

Posts : 2298
Join date : 2011-02-13

Back to top Go down

Re: US inflation rate using Volcker-Era methodology Nearing 10%

Post by mrgolf on Mon Apr 18, 2011 1:07 pm

elvis44102 wrote:you and I would THINK food is important, however

CPI
The core CPI index excludes goods with high price volatility, such as food and energy

http://en.wikipedia.org/wiki/United_States_Consumer_Price_Index
That's what I thought
avatar
mrgolf
Monster Poster

Posts : 4049
Join date : 2011-02-13
Location : Santa Rosa, California

Back to top Go down

Re: US inflation rate using Volcker-Era methodology Nearing 10%

Post by Guest on Mon Apr 18, 2011 1:11 pm

Well I guess what makes sense to the average person doesn't count. Let's exclude some of the most important things we need. I admit I see the logic but really!

Guest
Guest


Back to top Go down

Re: US inflation rate using Volcker-Era methodology Nearing 10%

Post by JaneWI on Mon Apr 18, 2011 2:04 pm

booniebeast wrote:Well I guess what makes sense to the average person doesn't count. Let's exclude some of the most important things we need. I admit I see the logic but really!

Some people believe food and fuel are left out of the equation is to keep COLA lower.
avatar
JaneWI
Monster Poster

Posts : 2298
Join date : 2011-02-13

Back to top Go down

Re: US inflation rate using Volcker-Era methodology Nearing 10%

Post by elvis44102 on Mon Apr 18, 2011 2:54 pm

booniebeast wrote:Well I guess what makes sense to the average person doesn't count. Let's exclude some of the most important things we need. I admit I see the logic but really!

This one of those moments of clarity, when you can say to yourself "I knew the game was rigged"....

I would not sit down and play cards with the people in charge of statistics in this country...
avatar
elvis44102
Elite Poster

Posts : 574
Join date : 2011-02-12

Back to top Go down

Re: US inflation rate using Volcker-Era methodology Nearing 10%

Post by Guest on Mon Apr 18, 2011 4:39 pm

elvis44102 wrote:booniebeast wrote:Well I guess what makes sense to the average person doesn't count. Let's exclude some of the most important things we need. I admit I see the logic but really!

This one of those moments of clarity, when you can say to yourself "I knew the game was rigged"....

I would not sit down and play cards with the people in charge of statistics in this country...

Yep. they get together and say we can't make this whole process too simple so everyone can understand it or we'll be unemployed!!!!

Guest
Guest


Back to top Go down

Re: US inflation rate using Volcker-Era methodology Nearing 10%

Post by Sponsored content


Sponsored content


Back to top Go down

View previous topic View next topic Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum