Friday, June 11, 2010

Rogers: CPI Data Is a Lie

Consumer Price Index figures lie, says investor Jim Rogers.

"They've changed their accounting several times in the past few decades," Rogers says.

"When housing was 20 percent to 25 percent of the CPI and housing was going up, they didn't count it, saying rents weren't going up, and then when home prices started going down, they counted it," he told Hera Research Newsletter.

"It's the same with many things. It's staggering some of the tortuous reasoning that the BLS (Bureau of Labor Statistics) has used over the past 25 or 30 years."

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