Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Greenspan was a primary author of several redefinitions of the Consumer Price Index and other inflation-rate indices. Interestingly, his revisions to CPI reflect more of the inflation rate that is applicable to upper-income folks. And this is the rate that he claims to have controlled by his policies.

For inflation as it affects the vast majority of us, I return to John Williams' site, www.shadowgovernmentstatistics.com . The idea that the rate of inflation for most U.S. citizens is 2 to 3 times as high as the official CPI fits in with Jerome's theme, too, in that the super-rich have transferred more debits (increased prices) to the 'middle class', which in true accounting fashion reappear as credits on the corporations' profit lines.

paul spencer

by paul spencer (spencerinthegorge AT yahoo DOT com) on Wed Dec 12th, 2007 at 12:42:57 PM EST
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