Hope reigns eternal.
Today we'll see how well the Non-Farm Payroll Report goes at 8:30 but we're up another quarter-point at the moment (7:30) in anticipation of a strong report, led by Government hiring for the 2020 census. Even with the extra workers, only 180,000 jobs are expected so it's going to be an easy upside surprise and wages are expected to be up at a 3.2% annualized pace with, of course, no sign of inflation – that the Fed can see, anyway…
On the right is the ShadowStats chart of REAL Inflation, which is pegging near 10% using a consistent methodology since 1980 – before the Government began tweaking the measurments to make sure the Data was no longer able to show inflation. In essence, what the Government has done is like measuring the temperature in Celcius instead of Farenheit in order to show you how they have cooled off the planet because they didn't bother changing the units on the chart – it's a huge scam and it's getting more and more out of control as the lies get bigger and bigger to cover it up. As noted by ShadowStats:
Consumer Price Index Has Been Reconfigured Since Early-1980s
So As to Understate Inflation versus Common Experience
- CPI no longer measures the cost of maintaining a constant standard of living.
- CPI no longer measures full inflation for out-of-pocket expenditures.
- With the misused cover of academic theory, politicians forced significant underreporting of official inflation, so as to cut annual cost-of-living adjustments to Social Security, etc.
- Politicians look to expand further the concept of artificially-suppressed cost-of-living adjustments in current budget-deficit negotiations, through the use of the Chained-CPI.
- Use of the CPI to adjust retirement benefits, private income or to set investment goals impairs the ability of retirees, income earners and investors to stay ahead of inflation.
- Understated inflation used in estimating inflation-adjusted growth has created