[e-gold-list] Re: more of the same US dollars

[Pete Chown]

Patrick Chkoreff wrote:

> E.g., milk is now $5 a gallon here.
> 
> But because milk is food, it's not part of "core" inflation, which means
> the US gov't doesn't have to raise its Ponz -- excuse me, Social
> Security payouts to match it.

It's the same with housing costs here in the UK.  House prices have risen 
sharply over the last few years, accompanied by all the usual noises 
about how it's based on economic fundamentals.  I'm sure the reality is 
that it's just inflation, but because it would make the figures look bad, 
the government prefers to ignore it.  As a result, they target inflation 
of retail prices, and ignore housing.

If housing costs were included, the economic growth produced by our 
current left-of-centre government would be nearly zero.  Funny that...

Pete



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