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Richmans' Trade and Taxes Blog
Bernanke trying to hide the rise
There are two key trends that the press isn't reporting these days:
But here is how Bernanke describes it:
He tries to hide the recent trend in inflation by pointing to an average which included times of deflation, including the deflation that Bernanke, himself, combated successfully in late 2008 by maintaining the growth in the money supply.
These two trends are ignored because they support inconvenient theories:
Comment by M, 11/9/2011:
Per Kevin Phillps (May 08, 2008) "If the current inflation rate is really 6-9 percent instead of the 2-3 percent claimed by government and most U.S. money managers, then Washington's official estimates that the economy still grew at a rate of some 0.6 percent in the first quarter of 2008 become nonsense."
Can you provide more information about how your more recent estimate of inflation relates to real growth in the economy over this more recent time period?
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