Do You Believe In BLS Unicorns?

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Authored by Jim Quinn via The Burning Platform blog,
The chart below says there has been 55.6% inflation over the last 20 years. That is just less than a 2.4% annual level of inflation.

What a load of bullshit. Let’s look at a couple of categories listed below and do a smell test. Everyone knows the prices of TVs have fallen dramatically, but 99% – I don’t think so. I was able to find the price of a 28 inch Samsung TV in 1997 – $750. The same size Samsung TV costs $200 today. That’s a 73% decrease. The good old BLS says the decrease is really 99% because the new TV does so much more. They call this a hedonic adjustment.
It gets better. The BLS shows the cost of housing up about 56% over the last 20 years. Here are a couple indisputable facts from the same government peddling this inflation drivel. The average new home cost $175,000 in 1997. The average new home in 2017 cost $380,000. For the math challenged, that is a 117% increase. The average monthly rent in 1997 was $576. In 2017 it was $1,021. That is a 77% increase. Housing is the biggest weighting in the CPI calculation. Since using actual cost increases would show at least a 90% increase in housing, the BLS drones created a fake calculation called owners equivalent rent which no one can question.
That’s how you fake housing inflation.
And now for the funniest bullshit of them all.
According to these fake news aficionados, the cost of a new car has not gone up by one dime in the last 20 years. It seems there is some non-government data that says otherwise. The average price of a new car in 1997 was $19,214. The average price of a new car in 2017 was $33,560. Does that strike you as a 0% increase? The actual increase for the average schmuck living in the real world has been 75%. But those good old hedonic adjustments get you back to 0%. Those heated seats for your ass and those deluxe cupholders made your drive to work $14,000 cheaper, according to the BLS.
The absurdity of this crap is almost beyond comprehension. The CPI is nothing but fake data disguised to make you think you haven’t been reamed up the ass for the last 20 years by the actual Federal Reserve created inflation exceeding 5% per year.
The Deep State counts on a dumbed down, math illiterate populace to believe this crap because it comes from the government.
Anyone who believes this bullshit is willfully ignorant  or just a plain dumbass.

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1 thought on “Do You Believe In BLS Unicorns?

  1. Just looking at the overall, and feeling it……I’d say inflation is about 10% a year, and wages go up 2% unless you are a government worker where they get about 5%. Most people are losing about 8% a year in the value of their dollar, so there is no point parking it in a bank or stuffing it under the mattress. They want you to spend it NOW, so unless you are getting over 10% returns on investments, you might as well.
    Housing price rises have destroyed future generations. Everyone loved it except those renting who wanted to buy a house. Banks love the rises because people need to borrow more, local councils love it because they can make people pay more in rates and taxes, businesses love it because the banks encouraged people to use their house as an ATM machine and withdraw equity (you know, house price will go up, so don’t worry!!). They had tv loaded up with renovation shows where people took a $150,000 house, spent $50,000 on it and some elbow grease, then sold it for $300,000! People were making more doing that, than actually working in their normal job. However, there is a ceiling or limit to all this, and some people are going to be left holding the bag with massive debts and no way to pay it off. The banks will swoop in and take the houses for pennies.
    The end result of all this massive inflation is homelessness. People living in tents, and working, but unable to afford rent. We can all see it, and it’s slowly inching its way up the ladder. There are builders and skilled workers now without a place to live.. We can already see places making it “illegal” to be homeless! What kind of bullshit is this? The very system that forced people through no fault of their own, onto the streets now wants to kick them while they are down.
    If people really understood money, the bankers would all be executed for fraud to send a message to anyone else who might discover the magic of the loan scam. The problem is we have too many people who have invested in the system to get that 15% return and they don’t want to see any changes whatsoever. Greed on all levels is killing all countries. Communism is not the answer, but nor is capitalism. Capitalism does not necessarily reward “hard work” just savy money oriented people. There has to be a better balance. Yugoslavia had the best of both worlds, but of course they were smashed up, because you can’t let people see there might be a better way.

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