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Fudging the inflation numbers has been coming on for a while now; I call it the "screw the old people and the foreigners" strategy. As for the issues with GAAP
by bd_at_rivenhill 12y ago
Fudging the inflation numbers has been coming on for a while now; I call it the "screw the old people and the foreigners" strategy.
As for the issues with GAAP, I can't understand why the holes in off-balance-sheet accounting haven't been closed given the number of disasters that have occurred. Government accounting, of course, is basically indistinguishable from bald-faced lying.
- PhantomGremlin 12y ago> I call it the "screw the old people and the foreigners" strategy It's only half of the strategy. ZIRP is the other half. Not only is inflation being under-reported, the savings that "the old people" have can't keep up with inflation because the Fed is artificially holding interest rates at zero.