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CNBC: White House lying about inflation.


The Obama administration continues to claim that there is no inflation. A survey of products at Walmart show .6% inflation in just two months. According to Obama’s economic advisers and Fed Chairman Bernanke, Americans needed inflation. They claimed that they force a controlled 2% inflation that would help the economy by raising home prices. What is actually going on is much higher inflation at the retail store while national housing prices have barely flatlined. This is what happens when the president recycles the same economic team put together by Bill Clinton.

Photo: Obama’s economic team consists of former Clinton officials and people who don’t even pay their own income taxes. They have say that the US needs inflation to raise housing prices.

From CNBC…

There might not have been a second round of quantitative easing, if Federal Reserve Chairman Ben Bernanke shopped at Walmart.

A new pricing survey of products sold at the world’s largest retailer showed a 0.6 percent price increase in just the last two months, according to MKM Partners. At that rate, prices would be close to four percent higher a year from now, double the Fed’s mandate.

The “inaugural price survey shows a small, but meaningful increase on an 86-item grocery basket,” said Patrick McKeever, MKM Partners analyst, in a note. Most of the items McKeever chose to track were every day items like food and detergent and made by national brands.