Note to Readers: Economist Barry Elias provided invaluable aid in researching this column.
If the same methodology that was used in 1980 to chronicle the double-digit inflation of that era were in use today, we would have an inflation rate of 10 percent right now, according to ShadowGovernmentStatistics.com.
We are entering a massive era of stagflation, which recalls to us our writing in “Catastrophe,” published two years ago, that “inflaton may well be the enduring legacy of the Obama presidency.”
How does the federal government understate the inflation rate? Let us count the ways: Read More»