20% inflation?

[blackfeather]

Peter Schiff is calling for 20% inflation this year...

www.zerohedge.com/markets/peter-schiff-warns-tucker-carlson-coming-financial-crisis-will-be-worse-pandemic

And if you look at how much the cost of living went up, measured by the CPI in the first four months of this year, it’s 2%. So, if you triple that to annualized it, we have consumer prices rising at 6% annually. But if you look at the monthly numbers, every month it accelerates. So, if you extrapolate the trend of the first four months of this year for the entire year, you’re going to get a 20% increase in consumer prices in 2021.”

[Ozarks Tom]

I'd say Mr Schiff is being conservative in his estimate. Shadowstats has an "alternative" measure for inflation based on previous, 1980 & 1990 standards for their numbers. The 1980 standards were when true inflation was measured including food and energy, the two things most pertinent to the people, not today's standards that use prices inconsequential to most of us, like automobiles.

Their figures show our current rate of inflation to be over 11% and increasing, not the phony 4.2% the government is telling us.
www.shadowstats.com/alternate_data/inflation-charts

Take Mr Schiff's estimate of increase and apply it to Shadowstats' figures and you end up with around 40% inflation by the end of the year.

The official unemployment numbers say we're at about 8%, while Shadowstat numbers which include those not looking for work but not drawing unemployment show around 25%.
www.shadowstats.com/alternate_data/unemployment-charts

We all know the government numbers are carefully constructed lies to put the best possible face on their poor handling of the economy, but it's startling to see the real divergence in the numbers and just how big those lies are.

[Deleted]

I read elsewhere inflation jumped 6% in May although this article says 5%.

If you Need it, buy it now while the money is still good.

www.usnews.com/news/economy/articles/2021-06-10/inflation-spikes-in-may-at-an-annual-rate-of-5-testing-markets-and-the-fed

[Ozarks Tom]

I've noticed a lot of the positive numbers being touted are comparisons to last year, when the country was basically shut down. GDP jumping 14% isn't a surprise when you consider GDP was stifled all through 2020.