Posted: Thu May 19, 2011 5:02 am Post subject: The Road to Hell is Paved by Central Bankers
The government began keeping official track of inflation in 1913, the year the Federal Reserve was created. The CPI on January 1, 1914 was 10.0. The CPI on January 1, 2011 was 220.2. This means that a manís suit that cost $10 in 1913 would cost $220 today, a 2,172% increase in ninety-eight years. This is a 95.6% loss in purchasing power of the dollar. The average American does not understand the insidious nature of central bank created inflation. It makes you think you are wealthier while you are driven into abject poverty. The Federal Reserve and politicians have pulled the wool over your eyes. The CPI was 30.9 in 1964. Today, it is 223.5. This means prices have risen 723% since 1964. The only problem is your wages have not risen at the same rate, even using the government manipulated CPI. Using a true CPI figure, average weekly earnings are 64% below what they were in 1964. This explains why a family of five could live well with one parent working in 1964, but even with both parents working and accumulating debt in prodigious amounts, the average family cannot live as well today.
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum You can attach files in this forum You can download files in this forum