I haven't located all the monthly details yet, but it's time for citizens to file a Class Action suit. If anyone out there doesn't think the numbers are a lie, you have to be brain dead.
Gas down 2% for the month, commodities down, medical care up 0.1%.....what a joke.
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Prices unchanged? If private companies cooked their books like this, their executives would be in prison.
__________________ "Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
I haven't located all the monthly details yet, but it's time for citizens to file a Class Action suit. If anyone out there doesn't think the numbers are a lie, you have to be brain dead.
Gas down 2% for the month, commodities down, medical care up 0.1%.....what a joke.
Which month and column are you referring to?
__________________ Retiring May 2010 --- maybe.
You only live once... If a nation expects to be ignorant and free, in a state of civilization, it expects what never was and and never will be. Thomas Jefferson
What I don't get is that TIPS are rallying today. They should be selling off viciously as people who hold them realize what a scam it is and sell.
__________________ "Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
What I don't get is that TIPS are rallying today. They should be selling off viciously as people who hold them realize what a scam it is and sell.
I don't get it either. Wall Street is drinking the koolaide, unlike Main Street.
As far as Wall Street, did you watch Bear Sterns this morning. Up $10 on the news is was about to go under (who the hell was buying on that news), then down 50%. The koolaide drinking is out of control.
This months CPI numbers that were reported this AM.
There is nothing tin foil about it, it is real. It's not just one month either.
What a joke.
You can find data easily to prove to yourself whether CPI is right or not, whether by looking at your past purchases or online (see below, one of hundreds of sources, choose one you trust). I gather you're referring to the Feb 08 CPI numbers, and if I eyeball the chart below down 2% looks feasible for Jan to Feb. Sounds like you're thinking about Feb to Mar, which appears it will be a different story. I've tracked and used CPI in my job for about 15 years, and I'm not so sure it's inaccurate as you allege.
You only live once... If a nation expects to be ignorant and free, in a state of civilization, it expects what never was and and never will be. Thomas Jefferson
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Join Date: Dec 2003
Location: Losing my whump
Posts: 22,526
Quote:
Originally Posted by RockOn
Get real. So that persons medical care is going up 1.2% a year? Get real.
Oh, I see you excuded health care, I guess it's free!
Yep, it is almost free in the CPI model. The CPI model presumes a worker who has their health care costs largely paid by their employer.
Even in the CPI-E (elderly) health care costs are presumed to be absorbed somewhat by medicare, but it does account for increased out of pocket expenses due to age.
Unfortunately, theres no CPI-ER where the primary cost is health care, followed by food, energy, travel and toys.
My frickin toy budget skyrocketed 498% in the last month.
__________________
Many an optimist has become rich by buying out a pessimist
Unfortunately, theres no CPI-ER where the primary cost is health care, followed by food, energy, travel and toys.
See, that's the thing. It may well be true that "discretionary" big-ticket items have fallen in price due to decreased demand, but that's because everything else is so damn high that a lot of people can't afford that big screen TV or new car because they're spending everything filling the gas tank, heating the home and keeping food on the table.
What they really need is a CPI-MC for the middle class, one that reflects a typical budget and recognizes that when prices of the essentials is very high, discretionary "stuff" is weighted less to account for the fact that fewer people can afford it.
__________________ "Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
Health care is down against last month but up 10% over last year
Gas is down and trending down faster (employing new driving style)
Food is up horribly but that's from moving the hedonic scale up (eating out multiple times a week)
Energy is even
It's not like the calculation for CPI is a mystery. And, it's based on polling real people. Do you think they're putting some ringers in the mix? Maybe you don't like their component weighting?
I didn't look hard, but this doc shows the weighting by category:
You can find data easily to prove to yourself whether CPI is right or not, whether by looking at past purchases or online (see below, one of hundreds of sources, choose one you trust). Your referring to the Feb 08 CPI numbers I gather, and if I eyeball the chart below down 2% looks feasible for Jan to Feb. I've tracked and used CPI in my job for about 15 years, and I'm not so sure it's inaccurate as you allege.
I'm a little fired up about this, so I might be missing something but it looks like gas was up 18% in the last year by your example. Yet CPI is less than 4% year over year? We can all pick and choose and play games with numbers.
Why be fired up about it. We know they exclude certain things its not like they change the parameters every month. Keep track of your own inflation rate.
Why be fired up about it. We know they exclude certain things its not like they change the parameters every month. Keep track of your own inflation rate.
But they claim that the OVERALL rate (which includes food and energy) is also unchanged. If you only said the "core" rate was unchanged, I could believe it. But you can't drive to w*rk or eat the core rate.
__________________ "Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
I've tracked and used CPI in my job for about 15 years, and I'm not so sure it's inaccurate as you allege.
Midpack, do you think the CPI accurately reflects the real cost-of-living for the average American?
__________________ Consult with only myself as your adviser or representative. My thoughts should be construed as investment advice of the highest caliber. Past performance is but a pale shadow and guarantee of even greater results in the future.
But they claim that the OVERALL rate (which includes food and energy) is also unchanged. If you only said the "core" rate was unchanged, I could believe it. But you can't drive to w*rk or eat the core rate.
Why is it so hard to believe for 1 month it was unchanged?
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