The Consumer Price Index (CPI) measures the average price of consumer goods and services purchased by households. The government uses the CPI to “calculate inflation.” Changes over the past 40 years to the CPI “to better reflect the actual costs” of goods and services in this country have not only provided a poorer reflection of the true costs but have actually harmed our economy.
From Nouakchott in northwest Africa to Port-au-Prince in the Caribbean, the situation is becoming grimmer by the day. The specter of world hunger, unseen in generations, even in the world’s poorest nations, is once again raising its head as food prices spiral out of control, leaving hoarding, rioting, and shortages in their wake.
Americans can’t be warned too often that the path toward cancellation of sovereignty for Europe’s 27 nations is the same route being carved out here. Europeans are discovering that they have been duped into accepting what they thought was only a trade pact. But, in reality, the European Union is a super government built to dominate the continent.
Although tax season has come and gone once again, the various proposals for tax reform are still with us. These tax-reform plans, even though they appear outwardly to be quite different, have one thing in common that dooms them from being taken seriously by advocates of liberty and less government: they are all revenue-neutral plans seeking the most fair and efficient way to fund the federal government’s ever-increasing, multi-trillion-dollar budgets.
The recent precipitous climb in global food prices is nothing less than “mass murder,” according to UN food envoy Jean Ziegler. In a recent interview with an Austrian newspaper, Ziegler, commenting on the climb in commodities prices that have triggered food riots in Haiti and growing lines from Latin America to Africa to Asia of hungry people seeking UN food handouts, suggested that the food shortages are a consequence of globalization.
Think you’ve got it tough? Spending up to $80 bucks to fill your tank with gasoline?
Former Federal Reserve Chairman Alan Greenspan (pictured) lives a charmed life. Besides pulling down an $8.5 million advance on his memoir, The Age of Turbulence: Adventures in a New World (topped only by Bill Clinton’s $10 million advance), he recently was treated to an orgy of media hype and hoopla usually reserved for screen idols and rock stars.
At a conference on April 16, Richard Fisher, president and chief executive officer of the Federal Reserve Bank of Dallas, warned that the U.S. economy could be facing trouble in the future. “According to official government reports,” cautioned Fisher, when it comes to wealth transfer programs including Social Security and Medicare “the gap between what we will take in and what we have promised to pay … now stands at $83.9 trillion.”