During April, according to official government statistics, gasoline prices fell 2 percent. Fell 2 percent, you say? That's crazy. And indeed, average gas prices actually rose 5.6 percent in April. By employing a seasonal adjustment that totally ignored the real reason for this price jump (the soaring cost of crude), however, the Commerce Department finessed the number in a way that allowed the overall inflation stat for April to come in at a modest .02 percent. This is yet another example of the government's current approach to solving economic problems. Fudging the numbers. Most Americans aren't fooled, of course. They understand the game being played. And their contempt for officialdom grows and grows in consequence.
The Numbers
Fudging Poem
Say the sun is shining when the rain is beating down,
Tell me black is white and red is just a shade of brown,
Proclaim inflation's well in hand, you have the beast in check,
Assure me costs for food and gas will not my budget wreck.
Tell the Congress, when you visit, once a month to testify,
That your stats are fairly handled and they certainly don't lie,
This approach may jolly markets, let Wall Streeters' profits swell,
But I gotta tell you, honestly, it's got a rotten smell.
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