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to determine the real rate of inflation, because both those industries are largely domestic. That both are completely out of the reach of people of modest means unless insurance and mortgage lenders intervene should speak volumes. Alas, people are uneducated in these matters and blithely go on chewing their cuds while they inch closer to utter disaster.
I say this because that "low inflation" we've been told we have over the past couple of decades has been due to our manufacturing base being sent offshore. That artificially low rate on consumer junk has been used to justify keeping US wages artificially low for the same period of time.
Then there's the rate of inflation we've all seen over the past year. Yeah, I'd peg it 8-10% with energy and food costs leading the way.
I flipped on the TV a couple of months ago to catch the local weather, didn't get the channel changed quite quickly enough and was treated to the spectacle of Schieffer saying "Well, if we deduct food and energy costs, we still have low inflation." That let me know two things: first, I've been right to shut the nightly propaganda hour off for the past 15 months, and second, corporate lying is alive and well and apparently people are still buying into it.
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