Up 250% “since April 2020.”

[gzz]

Up 250% “since April 2020.” In other words, they picked an extreme outlier month as their base month. Not a good start to being “opinionless,” but suggestive of someone hyping inflation risk.

It is common to have outliers in inflation. This is why to measure shorter term inflation, we often use trimmed measures that remove the highest and lowest figures.

https://www.dallasfed.org/research/pce/

Have a look at this chart:

https://d2t794khe5w43b.cloudfront.net/tinymce/2020-07/1594657061-screen_shot_2020-07-13_at_11.16_.46_am_.png

From this article:

https://oilprice.com/Latest-Energy-News/World-News/The-Best-And-Worst-Commodities-In-2020.html

I can find deflation anecdotes like this as easily as inflation anecdotes.

But US elites don’t like the redistributive aspect of inflation, and control the mass media and endlessly and incessantly hype inflation risk.

This bias is so intense and omnipresent that people rarely realize it is there. Here’s a chart to wake you up:

…and you could go further back. we are farther along the great missed call. nailed-it: @agaryshilling steve major @SriKGlobal & select few others… @jmackin2 @WSJ pic.twitter.com/ekEqPzyywO

— tom keene (@tomkeene) December 20, 2020

EVERY SINGLE YEAR since 2005 the “consensus” has been rates will go up over the next 12 months.

PREDICTION: the next fifteen years, every single year the “expert consensus” will continue to be rising rates.