Retail pump prices hit 26-month high
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|Tue, 12-07-2010 - 1:19am|
Gas, heating oil, propane, electricity, it seems like all energy costs are going up. Then add in food costs going up too. Our beautiful government tells us there is no inflation, they have this wonderful invention called hedonic regression. The nice thing about hedonic regression (from the government point of view) is they can adjust inflation to just about anything they want with it. This has allowed a formal disconnect between higher commodity prices and government inflation calculation. Our elites no longer need be concerned that prices people pay for stuff is going up, instead they have the Fed and Treasury to assure them there is no inflation.