From John Williams’ www.Shadowstats.com :
– Unhappy Surprises in Pending GDP Numbers
– Look for Downside Revisions to GDP Growth of Recent Years, Including First-Quarter 2014
– Initial Estimate of Second-Quarter GDP Growth Should Surprise Market Expectations Sharply on the Downside
– Quarterly Consumer Inflation of 3.0% at Three-Year High
– Inflation Wiped Out Headline Gain in June Retail Sales
– Real Earnings Fell for Third Straight Month
– June Annual Inflation: 2.1% (CPI-U), 2.0% (CPI-W), 9.8% (ShadowStats)
– Existing-Home Sales Fell Year-to-Year for 8th Straight Month
– Negative Surprises Likely in Next Week’s GDP Reporting and Revisions
Go to the grocery store, the gas station, the local restaurants, etc. and you will agree with John’s 9.8% inflation number. The governments numbers are pipedreams. Inflation at 9.8% and the savings rate at .3%. Your savings is shrinking at a rate of 9.5% per year. They are trying to get you to prop up the stock market by moving savings to this market of inherent greater risk. Who really cares about your safety and future? What they are prodding you to do with the low savings rate: “Just cross your fingers roll the dice!” What a travesty to those who spent their lives doing the right thing.
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