Bigger Social Security raise in sight for seniors

Three cheers for inflation, especially this summer. Believe it or not, there is a reason to say it: Older Americans have a floor under their income because Social Security retirement benefits are adjusted for ...

[Frank]

Since the consumer price index has been continually redefined resulting in lower official inflation numbers on average these seniors are being taken to the cleaners.

If CPI was still measured the way it was back in 1980 we would be seeing a 10% official inflation rate instead of 4%. Meanwhile M3 the best measure of money supply has recently been growing at 17% per annum higher than at any other time in US history.

These seniors better buckle up. We will be facing a credit contraction accompanied by numerous bank failures in the future, this may dampen the inflationary storm on the horizon but not eliminate it. They would be best holding some gold and silver to protect them against potential currency risk.

Be safe. Buy gold. Buy silver. Buy food.

[Joe]

Does or does not the CPI-W include the cost of food and fuel (gasoline/diesel)? I've heard it both ways and this article does not address the question that I can see.

[The Bloody Snowman]

Once again: Figures may not lie but Liars figure.

[Mightycline]

Joe wrote:

Does or does not the CPI-W include the cost of food and fuel (gasoline/diesel)? I've heard it both ways and this article does not address the question that I can see.

it took a while buthere I am...Yes the food fuel is included in CPI-W. Matter of fact, it works best in the CPI-W for us. Get off the gold guys. The stronger dollar is going to bring commoidities down down down. Mightycline

[Mightycline]

The Bloody Snowman wrote:

Once again: Figures may not lie but Liars figure.

Has anyone ever notice that there are a lot of liars in Illinois? Three Gov's have been sent to prison.....Kerner, Walker and Ryan........with the current Gov deserving a cell of his own and in company Rezko the obama bailmeister and there are a lotta Cook County politico folks in line for prison or already there!!!!??