by Charles Hugh Smith
Of Two Minds
The grim reality is that real inflation is 7+% per year.
What would happen if the real rate of inflation was revealed? The entire status quo would immediately implode. Consider the immediate consequences to Social Security, interest rates and the cost of refinancing government debt.
Unbiased private-sector efforts to calculate the real rate of inflation have yielded a rate of around 7% to 13% per year, depending on the locale–many multiples of the official rate of around 1% per year.