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INFLATION REARING ITS UGLY HEAD AGAIN
Inflation is rearing its ugly head again. In January wholesale prices leaped a full one percent (12% annualized), according to the US Labor Dept.
But according to Swiss America CEO Craig R. Smith the CPI/PPI data is “corrupt beyond belief”, adding that commodes’ inflation alone is up a whopping 50% since 2006!
During your interview with Craig Smith he shares with your audience that even if we only use the 4.1% CPI numbers from the government, it puts the current rate of inflation at the highest point in 17 years!
Craig shares with your audience tips on how to beat inflation before it beats them. Here’s some further information from Craig’s company, Swiss America:
THE INFLATION SOLUTION
CPI/PPI data "corrupt beyond belief", commodities up 50% since 2006!
Swiss America Special Report
Feb. 26, 2008
The government reports the consumer price index (CPI) rose a whopping 4.1% in 2007 -- the highest in 17 years!
In January the retail consumer price index (CPI) increased 0.4%, driven by 0.7% gains in both energy and food prices. But "core" inflation, which excludes food and energy prices rose by .3%.
The wholesale producer price index (PPI) climbed by 1% in January the Labor Department reported today. But "core" PPI, rose 0.4%.
The wholesale producer price index rocketed 6.3% in 2007 -- the fastest pace in 26 years! Yet the government reports "core" inflation up only 2.4% last year. How can that be?
"We who eat and drive suspect government stats are rotten at the core. Worse yet, the real world rate of inflation is likely TWICE as high as reported," says Swiss America CEO Craig R. Smith.
"This inflation data has undergone systematic adjustments that render it corrupt beyond belief. An alternative measure of inflation, calculated by private sources, is provided by the Commodities Research Bureau (CRB).
Anyone can clearly see that the CRB’s take on inflation differs wildly from the view espoused by officialdom – having risen from sub-300 to 450 [50 % increase] in 25 months," reports Financial Sense University.
No wonder everyone from Paul Harvey... to Ben Bernanke... to OPEC is worried about runaway inflation! After years of being told "Inflation is NO problem!" now even government stats can't hide it!
Common sense tell us the true rate of inflation is much higher than 2, 3 or 4% -- which is what many economic experts and government leaders still maintain today. (What planet do these guys live on anyway?)
Craig is making available a free report to your audience upon request. All they have to do is call: 800-289-and ask for the free 10-page report called "Inflation Solution
Here's some of what's covered in the free report:
* THE CONFUSION OVER MONEY & INFLATION
"All the perplexities, confusion and distress in America arise... from downright ignorance of the nature of coin, credit and circulation." -JOHN ADAMS
* THE ORIGIN OF MODERN INFLATION
Original sin was that Eve told Adam about central banking, about the notion that you can create value with a stroke of the pen." -THE FED
INTEREST RATES AND INFLATION
Inflation is the one form of taxation that can be imposed without legislation." -MILTON FRIEDMAN
* THE TOP INFLATION FIGHTERS
It's a good idea to keep an inflation kicker in a well-balanced portfolio." -LINDA STERN
ABOUT CRAIG SMITH…
Craig R. Smith is the president and CEO of Swiss America Trading Corporation, one of the largest and most respected tangible assets firms in the U.S.
Craig Smith is an author of Black Gold Stranglehold and collaborator on the book Atomic Iran.
As a commentator and economic analyst, Craig instantly engages audiences with his common-sense perspective on national and global economic trends. Over the past two decades he has been interviewed on over 1,500 radio and TV programs including: FOX News, CNN, CNBC, ABC, NBC, CBS, PBS, TNT, CBN, TBN, Time, The Wall Street Journal, The New York Times, Newsweek and World Net Daily. He currently resides in Phoenix, Arizona.
CONTACT: To schedule an interview, call Special Guests, Lynne Campbell or Shauna Whitlock at: 630-848-0750. Television inquiries: Jerry McGlothlin, 212-699-2518
THE FOLLOWING ARTICLE MAY BE HELPFUL WITH SHOW PREP:
Bottom of Form
ASSOCIATED PRESS/ February 26, 2008
Inflation Soars as Confidence Plunges
NEW YORK (AP) -- No good news today on the economic front. Consumer confidence plunged, the wholesale inflation rate soared, the number of homes being foreclosed jumped, home prices fell sharply and a report predicts big increases in health care costs.
Consumer confidence weakened significantly as Americans worry about less-favorable business conditions and job prospects. The New York-based Conference Board says in a report released on Tuesday that its Consumer Confidence Index plunged in February to 75.0 from a revised 87.3 in January.
The reading -- the lowest since the index registered 64.8 in February 2003 -- is far below the 83.0 analysts expected.
The index measures how consumers feel now about the economy. It has been weakening since July, suggesting that wary consumers may retrench financially, which could fatigue the economy further.
Inflation at the wholesale level soared in January, pushed higher by rising costs for food, energy and medicine. The monthly increase carried the annual inflation rate to its fastest jump in a quarter century.
The Labor Department said Tuesday that wholesale prices rose 1 percent last month, more than double the 0.4 percent increase that economists had been expecting.
The January surge left wholesale prices rising by 7.5 percent over the past 12 months, the fastest pace in more than 26 years, since prices had risen at a 7.5 percent pace in the 12 months ending in October 1981.
The number of homes facing foreclosure jumped 57 percent in January compared to a year ago, with lenders increasingly forced to take possession of homes they couldn't unload at auctions, a mortgage research firm said Monday.
Nationwide, some 233,001 homes received at least one notice from lenders last month related to overdue payments, compared with 148,425 a year earlier, according to Irvine, Calif.-based RealtyTrac Inc. Nearly half of the total involved first-time default notices.
The worsening situation came despite ongoing efforts by lenders to help borrowers manage their payments by modifying loan terms, working out long-term repayment plans and other actions
U.S. home prices lost 8.9 percent in the final quarter of 2007, Standard & Poor's said Tuesday, marking a full year of declining values and the steepest drop in the 20-year history of its housing index.
''We reached a somber year-end for the housing market in 2007,'' said one of the index's creators Robert Shiller. ''Home prices across the nation and in most metro areas are significantly lower than where they were a year ago. Wherever you look things look bleak.''
The S&P/Case-Shiller home price indices, which include a quarterly index, a 20-city index and a 10-city index, reflect year-over-year declines in 17 metropolitan areas with double-digit declines in eight of them.
By 2017, total health care spending will double to more than $4 trillion a year, accounting for one of every $5 the nation spends, the federal government projects.
The 6.7 percent annual increase in spending -- nearly three times the rate of inflation-- will be largely driven by higher prices and an increased demand for care, the Centers for Medicare and Medicaid Services said Monday. Other factors in the mix include a growing and aging population. The first wave of baby boomers become eligible for Medicare beginning in 2011.
With the aging population, the federal government will be picking up the tab for a growing share of the nation's medical expenses. Overall, federal and state governments accounted for about 46 percent of health expenditures in 2006. That percentage will increase to 49 percent over the next decade.
Copyright 2008 The Associated Press
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