March 29, 2010
One of my consistent views on this site is “real” inflation is much higher than what the government is telling us. For example, recently the Bureau of Labor Statistics announced February’s inflation number (CPI) was “unchanged” at a 2.1% annual rate. Over the years, the BLS has changed the way it calculates inflation by using accounting gimmicks that understate what most people would consider the true cost of living. So, the government inflation numbers of today make inflation look much lower than it really is for main street America.
One of my readers, David from Salem Alabama, is under no illusion the inflation genie is captured in the bottle. David admits he is a “Dollar store junkie”, and shops at places such as “Dollar General and Big Lots, etc.” Here is an excerpt from a recent email to me from David on what he is seeing first hand:
This article was posted: Monday, March 29, 2010 at 10:08 am