Bernanke says "there is no inflation." Do you agree, do you think your costs are going up only 2% a year?

Question

Do you think gas, energy, Comcast cable, rent, homes prices, bank charges, health care, tolls, fees, education, day care, food prices are only going up 2%. Or do you think Bernanke is crazy?

Answer 1

Well, maybe not for Bernanke, but for the rest of the world, if the population is increasing and the resources are not, then there is indeed going to be inflation, whether anyone acknowledges it or not. It is as simple as that.

Answer 2

Bernanke is not lying, and he is not crazy. He is also not the one saying that inflation is only going up 2% a year. Just because he is the Fed Chairman, and the most visible person in all of this, don't assume that these are things that he just makes up on his own. There are hundreds of people that work on these things. Bernanke agrees with the number, but it is by no means "his" number.

The thing you do have to understand about that 2% number is that it is an ECONOMY WIDE number. Yes there are things that are going up faster than 2%, no one denies that. But on a whole, prices are rising at about 2%, and that is the number that the Fed is concerned with. They're job is not to control the price of milk, it is to control the prices of everything in the economy across the board. Milk is going up, but other things, like computers, are going down. You have to take things is aggregate.

There is a lot of math that goes into this stuff, and if you go and actually LOOK and do a little RESEARCH you can see that for yourself. Here is a great place to start:
http://www.bls.gov/cpi/

You will find all the info you could possibly want on the Consumer Price Index (CPI), which is what the Fed, and everyone else uses to measure inflation (or at least the main thing).

Also, can we leave the Anti-Semitism out of this? The man is smarter than all of us, and it seems most of you don't even understand half of what the Fed does, so leave the Jew-hating and other stupidity out.

Answer 3

It's a complete fraud. The core inflation numbers EXCLUDE food and energy, and even the price of homes. They use rental rates, which have actually gone down. Yet 70% of americans own houses, not rent them. And 100% of americans buy food and use energy.
The two reasons they commit this fraud for calculating inflation is to make it look like they are doing a great job keeping inflation low, and the main reason:
Reduce the Federal Government's inflation-adjusted obligations i.e. Social Security and government workers' pay, and other forms of welfare.
No one believes their lies, and it doesn't matter who's in office or who's holding the title "Fed Chairman". They are all liars.

Answer 4

No wonder people have lost faith in Government.
{Bernanke is an appointed official but he doesn't work for, 'We the People'.}

I didn't read the article but I imagine it's a good spin on the truth.

He could have said up 2% this quarter....Which really means 8% annually....or 2% this month, which really means 24% annually.

The truth is Bernanke, and the rest of the D. C. in crowd, don't shop at our local markets, buy gas at our local gas stations, or pay rent in our local towns......They're so out of touch with reality that common Americans have a hard time taking them seriously.......I think Ron Paul can change things in this country,,,,And yes if Ron Paul is elected President, Mr. Bernanke will soon be pounding the pavement looking for work.
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Answer 5

Yes, He's crazy ! They have a funny way of defining inflation that is related to cost of labor, but excludes things like cost of gasoline, farm products, and other select items.

However, costs of corn, milk, and gas are rising much faster than 2% ! My gasoline and air conditioning costs have nearly doubled, food prices seem to be up 25% (so I'm buying more fresh food and cooking it myself... it's much cheaper!), but house prices and rent is going down in my area.

Answer 6

Core inflation remains at 2%. Whine all you care to about gas prices, but it's a mystery to me why so many Americans want their gas to cost what it did 10 years ago, you'd be mad as a wet hen if your boss adjusted your salary to what it was 10 years ago!

Answer 7

The Federal Reserve is a scam that devalues the American dollar. Bernanke is a lying Ashkenazi Jew, just like all of the rest of the jerks that run the Fed and Washington D.C. Of course he is lying. Those Jews are robbing America blind.

Answer 8

Duh, have you looked at the price of milk lately? Or eggs? Gas? Meat???