Who to believe less? A government official talking money or a big media talking head?

From today’s “Face The Nation” on CBS with Margaret Brennan:

Treasury Secretary Scott Bessent: “Thus far there have been no price increases – everything has been alarmist. The inflation numbers are actually dropping. We saw the first drop of inflation in four years. The inflation numbers last week, they were very pro-consumer.“

“Margaret, when we were here in March, you said there was going to be big inflation. There hasn’t been any inflation. Actually, the inflation numbers were the best in four years. So why don’t we stop trying to say ‘this could happen,’ wait and see what does happen.“

Emphasis mine.

I remember seeing this movie back in the 1970s.

Let’s see now … If there have been no price increases, how are inflation numbers dropping? Or is he claiming deflation?

Or maybe he’s right. Prices haven’t being going up, the value of your dollar is going down. I recall one time long ago when a CEO of McDonald’s said that they still sold a 15¢ hamburger but adjusted for inflation.

There hasn’t been any inflation? This must be from someone that doesn’t do his own shopping or keep his own accounts.

Are you aware the Fed is dumping massive amounts of funny money into the system (ie, stock market) in order to keep the stock market “stable”? Your 401K and/or other “money” assets are not going up in value; they’re actually decreasing faster than most realize.

The word for the day … and many days to come … is “ohshit”.

But in other latest news: we won’t be worried about such things for very long.