Last week our trusty government released it's inflation stats for April. Overall, consumer prices are said to have rose 0.4% from March and 2.6% from a year earlier. The closely watched "core" number, excluding food and energy, came in at 2.3%.
First off, it's amazing that Wall Street, and more specifically our bond markets, fail to question these numbers. Does anyone really think inflation is running below 3%? Guess it's not surprising seeing as Wall Street also buys in to this whole "core" number absurdity.
In reality, inflation is running about 5%. At least. This does not show up in government statistics because the numbers are tortured. The goal posts are being moved. We are engineering new and creative ways to eliminate inflation through statistical wizardry. Our government's numbers, in this case, are so unrealistic as to be deemed useless.
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