Inflation, using the reporting methodologies in place before 1980, hit an annual rate of 9.6 percent in February, according to the Shadow Government Statistics newsletter.
Since 1980, the Bureau of Labor Statistics has changed the way it calculates the CPI in order to account for the substitution of products, improvements in quality (i.e. iPad 2 costing the same as original iPad) and other things. Backing out more methods implemented in 1990 by the BLS still puts inflation at a 5.5 percent rate and getting worse, according to the calculations by the newsletter’s web site, Shadowstats.com.
Adjusting for inflation based on improvements in technology and manufacturing is a ridiculous concept.
Who’d have thought the Daily Show would be this good with Obama in office? To Comedy Central’s glee, the new pres has not disappointed in the material department. He has consistently offered up the same stomach-churning, all-you-can-do-is-laugh fodder we came to know and love under Bush.
Came across this headline in a Google News search for “silver prices”.
I guess the (very modest) pullback in gold and silver on Friday was due to all the positive news we’ve had recently, not due to another CME margin hike on silver, or simply profit-taking after a huge run.
No real concern for precious-metal-longs, as the CME probably should be raising margin-reqs as prices spike. But a short-term pullback is not unexpected after such a move (note: the margin requirements do apply to both long and short positions, but I suspect the short-positions have, let’s say, superior funding options.)
So why is a vacuous splog like Planet Insane is included in Google News results, while Zero Hedge isn’t? Can’t say. But whether a site is included in Google News is an editorial decision made by Google staff.
This isn’t meant to be disrespectful to the author or site. IP has a business model that involves churning out a lot of content, cheaply, and that’s fine. It’s meant more as a critique about the editorial standards employed by Google News.
Anyone who’s visited Google Finance realizes they have some cleanup to do. Their news feeds are horrific, absolutely full of spam-blogs (splogs). Almost no stories with any real value.
