The academics, economists, and government bureaucrats pontificating on the economy tell the masses not to worry because there is no inflation. They say it over and over, praying that everyone will believe their BIG LIE. This morning I read in my local newspaper that North Penn School District will be raising real estate taxes by 4%. Last week I read that the state of PA will have no choice but to raise the income tax rate. Let's take a look at some other costs that average Americans deal with on a daily basis:
Living Expense Price 1-09 Price Today % Increase An... %
Gasoline &a... $1.69 $2.62 55% &... 130%
The reason that the ruling elite are touting the no inflation mantra is because wages make up the largest piece of CPI, by far. As Universities have a June 30 year end, our new raises will kick in on July 1. I was actually happy with my new 1.2% increase. With 14 million people looking for jobs, wages will be low for a long time. This is seen as a major positive by elite economists and the people who run the Social Security system. Senior citizens will get virtually no increase in their SS payments, while their utility and energy costs go up double digits. Meanwhile, the senior citizens get .5% on their money market savings.
The middle class sinks lower as they pay for things in the real world, while bankers are saved by zero interest rates and handouts from the taxpayers. The lies get bigger and bigger.