If you buy groceries, you might notice a disconnect between what you experience at the store and the number you read in the news regarding inflation. If you receive Social Security you may wonder why your benefits seem to buy less even though you get no increase because price inflation is supposedly extremely low.
The answer is simple. Government economic statistics are wrong. Or, at least, they don’t match the reality people experience.
The good guy who runs ShadowStats.com explains it all to us. (I am a subscriber only and receive no benefits if you purchase a subscription.)
In a nutshell …
If you figure unemployment stats they way they were prior to 1980, the number would be about 22% which is almost Great Depression levels.
The reason we don’t see bread-lines in the streets is because almost 60 million are on food stamps which works out to about 1 in 6 in the United States. Great economy you have rolling there Barak.
And inflation is deliberately massaged down using “hedonics” and other voodoo so the government doesn’t have to give Social Security recipients cost-of-living increases.
Can a nation thrive with all the fraud going on? If so, how long? I don’t know.
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