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Hey didn't they do this before? WERE SAVED!

ttownttown Posts: 4,472 ✭✭✭
Let's change the way the CPI is measured



Jim Sinclair’s Commentary

If you do not like what an Index is saying then the economic cure is to change the Index?

Trader Dan’s Commentary

Our nation is frickin’ doomed. These dishonest and unethical btards will do anything to keep the illusion alive.

This is nothing but government sanctioned theft of senior citizen Social Security benefits.

Change To Inflation Measurement On Table As Part Of Budget Talks –Aides
By Corey Boles and Janet Hook

WASHINGTON -(Dow Jones)- Lawmakers are considering changing how the Consumer Price Index is calculated, a move that could save perhaps $220 billion and represent significant progress in the ongoing federal debt ceiling and deficit reduction talks.

According to congressional aides familiar with the discussions, the proposal would shift how the Consumer Price Index is calculated to reflect how people tend to change spending patterns when prices increase. For example, consumers tend to drive less when gas prices increase dramatically.

Such a move is widely seen by economists as resulting in a slower rise in inflation. That would impact an array of federal programs that are linked to CPI including the Social Security program and income tax brackets set by the federal government.

The proposal could lower federal spending by around $220 billion over the next decade, based on calculations by last year’s White House deficit commission, which recommended the change as part of its final report.

According to two congressional aides familiar with the budget negotiations, the shift is being "seriously discussed" as part of the ongoing talks to strike a budget deal, that would be used to ease the passage of a required increase in the country’s debt limit.

Comments

  • CaptHenwayCaptHenway Posts: 31,499 ✭✭✭✭✭
    Are they bleeping bleeping bleeping bleeping crazy??????????
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Smoke and mirrors.... all in the name of bureaucrats scrambling to keep their jobs. Cheers, RickO
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    You mean they aren't satisifed that CPI is already only about half of the number the earlier models give? The earlier changes made from 1983-2004 have probably saved them a $100-$200 BILL per year in benefit payments.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • imageimageimage
    A nickel ain't worth a dime anymore.
    Yogi Berra

  • streeterstreeter Posts: 4,312 ✭✭✭✭✭
    It goes like this...butter goes from $2.00lb to $3.00lb. And it gets expensive so you change to Imperial at $1.00lb.

    You bought a pound of spread for $1.00 as opposed to $2.00 so we now have 50% deflation. VIOLA!

    What a country.
    Have a nice day
  • BearBear Posts: 18,954 ✭✭
    Well, I guess that we can expect to see Inflation go to minus 22% in the near future.

    We have seen the last of COLA increases in SS payments.
    There once was a place called
    Camelotimage
  • dbcoindbcoin Posts: 2,200 ✭✭
    It gets even better. Just a few years ago, I could get my teeth cleaned at the dentist for $75. Now it costs $150. But the dentist bought some new equipment that does the job better so I have a better smile. Therefore, the CPI cost index for the dentist has not doubled, it has actually gone down because of improved technology and my resultant better smile.
  • PerryHallPerryHall Posts: 45,301 ✭✭✭✭✭


    << <i>It gets even better. Just a few years ago, I could get my teeth cleaned at the dentist for $75. Now it costs $150. But the dentist bought some new equipment that does the job better so I have a better smile. Therefore, the CPI cost index for the dentist has not doubled, it has actually gone down because of improved technology and my resultant better smile. >>



    I bet you weren't smiling when you saw his prices double.image

    Worry is the interest you pay on a debt you may not owe.

  • BaleyBaley Posts: 22,658 ✭✭✭✭✭
    Yeah, CPI should definitely still include whale oil and buggy whips. And corsets! who doesn't love corsets?

    Liberty: Parent of Science & Industry

  • CaptHenwayCaptHenway Posts: 31,499 ✭✭✭✭✭


    << <i>Yeah, CPI should definitely still include whale oil and buggy whips. And corsets! who doesn't love corsets? >>



    You may dress however you wish.

    image
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭


    << <i>

    << <i>Yeah, CPI should definitely still include whale oil and buggy whips. And corsets! who doesn't love corsets? >>



    You may dress however you wish.

    image >>



    LOL image
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • PerryHallPerryHall Posts: 45,301 ✭✭✭✭✭


    << <i>

    << <i>Yeah, CPI should definitely still include whale oil and buggy whips. And corsets! who doesn't love corsets? >>



    You may dress however you wish.

    image >>



    Baley wearing a corset while cracking a buggy whip---thanks for the visual.image



    Worry is the interest you pay on a debt you may not owe.

  • I applaud the bold thinking, after all if you can't afford to live indoors you move outdoors.

    Think of the improvements in heath, breathing the fresh air instead of contaminants.image
  • VikingDudeVikingDude Posts: 1,298 ✭✭✭
    They're missing the basic premise. It is a consumer PRICE index, not a consumer SPENDING index.
  • jmski52jmski52 Posts: 22,305 ✭✭✭✭✭
    Buggy whips might be making a comeback once we hit $12.00/gallon, but at least Social Security will still be sending out checks.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • BaleyBaley Posts: 22,658 ✭✭✭✭✭
    Ah, the the good old days in RetroForumville, all the ladies in corsets and swinging buggy whips, their skin glistening with whale oil, all the gentlemen wearing silk tophats and monocles and waving around long cigarette holders, besides those expenses the CPI also includes lots of patent medicines containing opium and cocaine, so it's never a dull moment!

    Liberty: Parent of Science & Industry

  • johnny9434johnny9434 Posts: 27,411 ✭✭✭✭✭


    << <i>Smoke and mirrors.... all in the name of bureaucrats scrambling to keep their jobs. Cheers, RickO >>



    no kidding. we the sheeple.....
  • CaptHenwayCaptHenway Posts: 31,499 ✭✭✭✭✭


    << <i>They're missing the basic premise. It is a consumer PRICE index, not a consumer SPENDING index. >>



    Amen, brother, amen!
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • yellowkidyellowkid Posts: 5,486
    On another thread someone mentioned the government seizing IRA's and pension funds, this is one of the reasons they won't, they don't have too. disgust;

    Hasn't this already been done once? Maybe this is what they were talking about a few years ago. Doesn't matter does it? There isn't any inflationimage
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