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Tiggity®

Oculus Spirit [97832]

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Joined: 7/13/02

They changed the way they calculate CPI in 1983, about the time our

Apr 5, 2024, 12:29 PM

national debt began it's trip to the stratosphere.

Our current bout of inflation was as bad as the early 1980's, IF you use the pre-1983 method to calculate it.

My job requires a very high level of ethics and morals, similar to attorneys. I am very keen in my work to spot conflicts of interest, and it happens all the time. And NO ONE CARES, which is the worst part.

Perhaps the biggest (moneywise) conflict of interest (in history?-certainly today) is the Bureau of Labor Statistics, a part of the US Department of Labor, an entity of the US Federal Government. BLS is part of the federal government. Its employees are paid by the federal government. The data it collects directly impacts not only interest rates, and debt serviceability for citizens, BUT IT ALSO IMPACTS HOW MUCH INTEREST THE FEDERAL GOVERNMENT PAYS ON OUR NATIONAL DEBT. If you work for BLS, and you provide data that shows inflation rising (again), or anything bad during an election cycle, or whatever else may be a conflict, that impacts YOUR FAMILY'S FINANCES. There is a huge motivation for BLS to undercount inflation (however necessary), inflate good economic news, and downplay bad economic news, as the entity that pays the employees is essentially insolvent and can not function, and will become INSOLVENT if inflation, or interest rates, were ever raised to 8%, 10% or higher. It's already paying mightily, through more debt, to service our current debt at 5.25%. That's an extra TRILLION dollars a year over say a 1% or lower Fed Lending rate.

Due to BLS data, the Federal Government, who pays BLS employees, is paying $1 trillion MORE to service our massive national debt, thanks to BLS data spurring the Federal reserve to raise rates. They claim BLS is an "independent" entity of the federal government, but I don't believe that. I DO THINK the Federal reserve is/does act independently though. Yesterday the markets tanked over 500 points because of "hawkish" comments from a Fed representative. The markets keep assuming the Fed will lower rates, but honestly, I don't believe Jerome Powell, or the Federal Reserve Board, trusts BLS data, for the same reason I don't trust it.

All the metrics look great, as they always do. Unemployment is low, 3.8%. Of course if everyone not working would just stop LOOKING FOR A JOB, we would have 0% unemployment. More cooked data we all are fed. Our labor participation rate is at levels last seen in the mid-1970's.

It just floors me to see everyone pouring over data collected, compiled, and released by a federal government $34,000,000,000,000.00+ in debt, and this data directly impacts the amount that same federal government has to pay to service their debt. Debt servicing buys ZERO votes in Congress. Get that rate down to 0.5% and Congress can start buying votes again with new debt, and BLS employees will not have to worry about shutdowns (as much) or their paychecks stopping, or the government defaulting.

And this is why I say the fed won't touch interest rates for a while. They don't trust the data and are looking at trends, and other data. A jobs report with 300K added jobs doesn't change the fact I can not afford to sell and re-buy my house. Or the fact I will spend $300 this weekend on groceries, as always, or the fact my wife spent $70 at Sonic last week, or $50 at Subway, or whatever. It won't change the fact my next car will cost at least 1/3 more than my last one, and I'm not even considering a truck. If inflation drops to ZERO, that means the 24% or so cooked into the inflation will simply stop climbing. Anyone had a 20% raise in the past 3 years? We will be forced to "deal with" the past inflation forever, unless we have deflation, and that only comes from a bad economy, and BLS can't have that.

This has nothing to do with Biden. The same thing happens when anyone is President. This isn't political. Money/the economy has long trumped politics in the US (no pun intended), which is the crux of our problem(s).

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It doesn’t help Cause Biden to ignore the OBiden Handlers Admin manipulative practices by shouting down those manipulations.

All it does is to diminish the already damaged credibility of the Federal Govt in the eyes of the typical Americans whose own lives are not aligned with the rosy (manipulated) government generated economic data.

OBiden Handlers Admin spent huge sums of money on entities & constituents which are not necessarily productive.

I’ll give you a specific example.

My nephew’s wife is a lawyer for the Dept of Education. Her specific job is to enforce civil rights as pertains to disadvantaged minorities (as defined by whichever ethnicities are of political focus at any given moment), with her ‘enforcement’ role being to bring lawsuits against schools (public and private) and local departments of education that have allegedly committed civil rights violations.

With the tidal wave of illegal entry immigrants pouring in starting 2021, there has been a shortage of lawyers available to sue other federal govt departments for suspected ‘violations of immigrant rights.’

Dept of Education had asked for ‘volunteers’ to take time away from their regular job and instead represent the illegal entry immigrants. I put the ‘###’ marks around ‘volunteer’ because there was not any denial of compensation to the Dept of Education lawyers who decided to do border duty. In other words, it’s not the same as true unpaid volunteers like those who work at voting precincts or soup kitchens.

Anyways, the Dept of Education funds their current staffing level of lawyers as being inadequate to perform the department’s duties. Therefore, more lawyers get hired.

In effect, the Federal Govt creates ‘job openings’ by violating their own immigration laws, subsequently finding their bureaucracy as being understaffed, and then creating exciting new, well paid jobs, to ‘fix’ the problem.

Is anyone surprised that one of the top categories of job growth during the OBiden Handlers Admin has been government jobs? Is anyone surprised that there is no fundamental boost in productivity from the federal govt creating problems that in turn must be solved by paying new bureaucrats to fix the very problems that the govt created in the first place?

Don’t give me that ‘all the good things done by OBiden Handlers Admin’ nonsense. They have distorted the economy and spent money to enrich unproductive sectors of society; the productive sectors haven’t gotten raises that keep up with inflation. Thus, wealth has been transferred from productive sectors of society to unproductive sectors. The Democrat party will never convince those sectors who have had wealth transferred away from them that ‘the OBiden Handlers Admin has done a good job with economy.’

No matter how much deflection is done.

Bidens economy fight inflation deception CPI manipulation

They changed the way they calculate CPI in 1983, about the time our

Re: They changed the way they calculate CPI in 1983, about the time our

Re: They changed the way they calculate CPI in 1983, about the time our

So something good must've happened in the economy...

Re: So something good must've happened in the economy...

Whatever you say, man...

Not this crap again...

Put up or Shut up

Again...you don't understand what an index is, how it is....

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