In one of the last opportunities he will have to grill Fed Chairman Bernanke, Ron Paul did not waste time. He starts out with an assault on official CPI, which is currently running at around 2% annually. Bernank & crew use this seemingly harmless number as justification for historically low rates & QE. However, if you calculate CPI as we did in 1980, as ShadowStats.com‘s John Williams does, inflation is running closer to 9%.
Why do we have “hedonic adjustments” to CPI, and a constantly-shifting basket of goods that make it up? To mask inflation, of course. Congressman Paul realizes this. He starts at :50.
Voting Ron Paul this year, without question. And despite popular beliefs, the race is still wide open. This is likely his last, and best, opportunity to win.Unlike most candidates, Paul will not be dropping out. Texas, California, New York, and other states that are usually irrelevant will all be in play this year. Paul will do extremely well in Texas, and has a good chance in California and other late-voting states. The prospect of a brokered convention also remains a possibility.