Inflation not a problem? Truth is, government figures have now become useless. Which ever party is in power, twists and spins the "numbers" to suit their agenda. Personally, I think inflation is running at around 5% or 6%. Of course, if (like the goverment does) you point to the fact that an electric drill made in China now costs $20 as opposed to $40 a few years ago and that t-shirt which was made in China is now $5 instead of $10, then inflation is not on the horizon. Now for a reality check. Restaurant prices are way up. Entertainment prices are up. Gasoline prices.......well, I don't have to tell you about that little item. House prices are in a massive (and I mean a MASSIVE) bubble in some areas. The ones which count because that's the areas where the major taxes come from. Let us not discusss the massive debt the US has or the ongoing Iraq situation. How about jobs? A report on the radio this morning said that a new WalMart in Washington had over 400 job applications submitted. In other words the government (again) is twisting the facts about jobs. Good, well paid jobs are leaving the country and being replaced by low paying jobs with no benefits. So, what's wrong with this picture? Government figures are what's wrong with this picture because they spin the old, "Inflation is tame if you take out food, housing and energy." Excuse me! That IS the economy. Pokersam's prediction(s) of the coming (perhaps already started) decline, points to the fact that all the above is in the mix. If property slumps which is the ONLY thing holding up this economy, watch out below! This might sound like a "chicken little" prediction but I don't really care because I'm neither bull or bear and I simply follow "Da Boyz" but I think anyone who is looking at the US economy and thinking it's in good shape (another government spin), might consider that there is a "hidden agenda" in there somewhere.
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