Bernanke, BLS Lie About Inflation

Mr. Faber is right on, Bubble ben bernanke is making everyone believe there is no inflation so he can keep all his cheap easy money policies in place, Im glad Faber is pointing this out and letting it be known that Bubble ben bernanke is lying, just like he did when he said sub-prime mortgage was contained and that the economy would avoid a recession. The same thing is happening now, he is lying about how out of whack inflation really is so he keep his easy money policies in place, yet no wants to believe how bad inflation is really getting.


Bernanke, BLS Lie About Inflation: Dr. Doom Faber
CNBC.com | February 02, 2011 | 08:19 AM EST

Global inflation is far higher than official statistics reveal, Marc Faber, editor and publisher of the “Gloom, Boom and Doom” report told CNBC on Wednesday, with increases in the cost of living amounting to between five and eight percent in the United States and just below that in Europe.

In its latest release, the Bureau of Labor Statistics said the consumer price index (CPI) increased 0.5 percent in December, while the latest figures in for the euro zone show the inflation rate rose to 2.4 percent in January.

“I guarantee you … the annual cost of living increases are more than 5 percent, and the Bureau of Labor Statistics is lying,” Faber told CNBC at the Russia Forum in Moscow.

“Mr Bernanke is a liar; inflation is much higher than what they publish. I would imagine for most households it’s between five and eight percent per annum in the United States and in Western European countries maybe a little bit lower but also around four and five percent per annum,” he said.

In addtion, Faber said high food prices, which have sparked political unrest in Egypt, would next cause turmoil in Pakistan.

“You may not have the problem in Saudi Arabia and the Emirates because there the governments can heavily subsidize food if they want to, but I’m particularly worried that what has happened in Egypt will happen in Pakistan,” he said.

Asked whether Pakistan would indeed see an Egypt-style uprising, he said: “I think that will be the case.”

“I think Egypt is a reminder to people that politics and social events and geopolitics have a meaningful impact on asset markets,” Faber said, adding that what the world was currently witnessing was “a wake up call where the US outperforms emerging markets for a while.”

“That doesn’t mean that the US goes up. It just may go down less than the others,” he said.

Turning to the global economic recovery, Faber said the West was bottoming out and recovering, which meant the global economy looked “OK” for the next six months.

But “we’re all doomed in the long run,” he said.

“We have to realize it’s an artificial recovery driven by ultra-expansionary, monetary policies and also ultra-expansionary fiscal policies.

In other words, the deficits of governments are huge and that will lead down the road to renewed problems,” he said.

 

Of course, he is lying. He has A Phd in it. Look at the commodity markets, a direct result of his lunacy.

 

Exactly!!!!!!!!!

Just wait till the debt ceiling gets raised and the bond program extended into the end of 2011!!! The spending will continue and continue, Bubble ben bernanke knows "exactly" what he is doing...hahahah....

 

Bullshit...

 

CPI has been rigged for a long time now back at least to the early 90's.