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Repeated tinkering with calculations keeps ‘official’ inflation rate low

“The official inflation rate is currently sitting at about 1 percent….The way that inflation is calculated has changed more than 20 times since 1978, and each time it has been changed the goal has been to make it appear to be lower than it actually is. If the rate of inflation was still calculated the way that it was back in 1980, it would be about 8 percent right now and everyone would be screaming about the fact that inflation is way too high…. Meanwhile, paychecks are not rising at the same pace that inflation is. In fact, median household income in the United States has fallen for four years in a row. Overall, it has declined by over $4000 during that time span. So the cost of living just keeps rising, but the middle class is making less money than before.” (Michael Snyder, The Economic Collapse)


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