Churchill,…I’m not sure who your “We” is…I certainly experienced inflation of that magnitude. …health insurance (which actually went from $125 to $600 for the same level of insurance), gas, schools, government,….food. My first figures are the official figures for the changes in the Consumer Price Index from the Bureau of Labor Statistics. The website ShadowStats.com explains what changes have been made to the formulas used to calculate changes in the cost of living, and why they make the official stats misleading.
The Clinton economy, did experience a bubble in the last few years with the Dot-com bubble. Clinton, though managed to steadily reduce the increase in public debt each year of his administration and during the Clinton administration the Glass-Steagal act was still in place, keeping a cap on leverage. Clinton is responsible for signing the Gramm-Leach-Blily Act(http://en.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act) that did away with the wall between deposit and investment banking.
This allowed investment banks to borrow from their own deposit banking subsidiaries, essentially giving them unlimited free money to loan out. While the devastating and unprecedented bubble occurred during a supportive Bush administration, Clinton certainly deserves credit/blame for setting the stage.
What is the link?…and I can explain it….I spent about 5 years figuring out the federal financial reports and wrote a book about how they could improve the reporting so that it was simple and clear.
Churchill,…I’m not sure who your “We” is…I certainly experienced inflation of that magnitude. …health insurance (which actually went from $125 to $600 for the same level of insurance), gas, schools, government,….food. My first figures are the official figures for the changes in the Consumer Price Index from the Bureau of Labor Statistics. The website ShadowStats.com explains what changes have been made to the formulas used to calculate changes in the cost of living, and why they make the official stats misleading.
The Clinton economy, did experience a bubble in the last few years with the Dot-com bubble. Clinton, though managed to steadily reduce the increase in public debt each year of his administration and during the Clinton administration the Glass-Steagal act was still in place, keeping a cap on leverage. Clinton is responsible for signing the Gramm-Leach-Blily Act(http://en.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act) that did away with the wall between deposit and investment banking.
This allowed investment banks to borrow from their own deposit banking subsidiaries, essentially giving them unlimited free money to loan out. While the devastating and unprecedented bubble occurred during a supportive Bush administration, Clinton certainly deserves credit/blame for setting the stage.
What is the link?…and I can explain it….I spent about 5 years figuring out the federal financial reports and wrote a book about how they could improve the reporting so that it was simple and clear.
http://www.amazon.com/Road-Great-Democracy-Financial-Reports/dp/0978600703/ref=sr11?ie=UTF8&s=books&qid=1303599740&sr=8-1