by Chris Powell
Dear Friend of GATA and Gold:
Despite yesterday’s rather sensational inflation news, inflation isn’t accelerating as much as it is breaking away from the camouflage that long has been thrown over it by the U.S. government and mainstream financial news organizations.
Anyone who pays close attention to prices knows, in large part because of the work of John Williams at ShadowStats, that for decades the government has been manipulating its inflation data and reconstructing its criteria to deceive the public about inflation. Real interest rates may be more negative this week than they were last week, but they have been negative for many years without prompting much honest journalism about them.