CPI Surges

The CPI is so bad that even the manipulated CPI is getting out of control.

The Consumer Price Index rose 1.1 percent in June. That's twice the rate of May when inflation grew at .6 percent. That is the biggest gain since Jun 1982.

In the last year, the cpi has risen 5%. Core inflation is up 2.4 percent.

Of course the bright spot in the inflation report is that your wages are not going up. So for the consumers, there is inflation in stuff we buy but no inflation in income.

You really have to feel sorry for the baby boomers. Their costs are going up, not getting much interest rates on their savings, and their stocks are going down. This is what the fed has bought them.

Why are the rates still below inflation? These rates are hurting the consumers. Just look at Wells Fargo results to see why th rate is so low. According to the company, Net interest margin for the quarter edged higher to 4.92% from 4.89% a year ago.

Wells Fargo raised their (already 6%) dividend by 10%. The fed is helping the banks re-capitlize and screwing the consumers.