Commentary
They keep telling us that the Fed is fighting inflation. Month after month, they say that it is cooling, softening, easing, pulling back, losing its edge, calming down, and gradually going away. These claims have been consistent for 28 months. And yet when you look at the big picture, the dollar has lost nearly 15 cents of value in the same period. And it just keeps happening.
It’s a tax. A hidden tax. Government is taking from you what it dares not attempt to get directly. So it does it through massive spending and then devaluing the currency.
The CPI today came in at a 0.1 percent monthly increase or 5 percent for the year. Once again, the spin is that this is supposedly good news. The “lowest level in two years,” blared all headlines, and it is technically true once you annualize the overall index. When was the last time you spent your money on an index? No, you buy goods and services….