Anyone else read about Greenspan mentioning...

[Postman]

moving to an alternative CPI (Consumer Price Index) to gauge inflationary moves in salaries?

I'm no economist. Having said that, I fear that we are headed toward an inflationary period worse than what we seen in the 70's. Remember Gerald Ford's WIP buttons? (Wip Inflation Now)

I think Greenspan wants to switch to an alternative CPI which will slow salarie increases as opposed to the current CPI that helps workers (who are lucky enough to have union representation) keep pace with inflation.

Economist DUers, a shout out for your evaluation....

[ulTRAX]

1. figures don't lie, but............

Which reminds me... remember the old adage... figures don't lie, but liars can figure? Have you heard of the proposal to classify burger flippers as having jobs in manufacturing? Poof! All those lost manufacturing jobs are back!

[ulTRAX]

2. more on burgers.....

http://www.cbsnews.com/stories/2004/02/20/politics/main601336.shtml

I stand a bit corrected... the report does not recommend this change but the article adds....

"But reclassifying fast food workers as manufacturing employees could have other advantages for the administration.

It would offset somewhat the ongoing loss of manufacturing jobs in national employment statistics. Since the month President Bush was inaugurated, the economy has lost about 2.7 million manufacturing jobs, according to the federal Bureau of Labor Statistics. That continues a long-term trend.

And the move would make the growth in service sector jobs, some of which pay low wages, more appealing. According to government figures, since January 2001 the economy has generated more than 600,000 new service-providing jobs."

[Festivito]

3. Rise already hidden. (WIN\NIM) No Immediate Miricles.

Energy was taken out of the inflation measurements. (Why should Greenspan or Republicans in general care about fixed-income retirees who aren't rich during a cold winter?) They can save so much MONEY by not paying COLA increases.

Gee, either they'll have to lower payments to SS and government retired by changing the CPI calculations further, OR, they'll have to reduce REPUBLICAN SPENDING!!!

I guess it will be easier to take from the elderly and disabled.