GaryD

How Ivory Tower Economists Created the Housing Bubble

(1) If rents start to rise, the government economists will probably re-jig their calculations to show lower inflation. I doubt that they will ever over-report inflation. (2) It is always easier for the government to punish taxpayers than tax consumers because they complain less. My guess is that we are in for a good round of inflation in order to transfer wealth to the borrowers/lenders. They are, after all, the ones who play the game.