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An FRB governor this morning, June 15, stated that the "core" CPI is increasing, and at an "accelerating" rate.

The term "accelerating" is this Fed Governor's term, not mine. The Governor in question is named Bossard (sp?).

"Accelerating"-- the CPI year over year has moved probably 75bp in increase-- certainly not an unorthodox motion given seasonalities and the like.

Surely not meriting the adjective "accelerating" either.

An increase? Yes. Abnormal?-- Not if one looks back over the past 160 years.

"Accelerating"?

"Accelerating"-- an Orwellian usage, it turns out, from an FRB member, a usage style at the FRB adding to its increasing lack of credibility throughout capital markets.

Let's review this: The FRB chairman for 6 months, DOJ anti-trust lawyers levelling fierce charges against Microsoft beginning in March, Energy Department's unfulfilled and vacuous promises of lower energy prices in April, and now a Fed Governor.

Four for four as far as mendacity in the civil servant corps is concerned.

Result: continued abuse of a shareholder's equity as long as civil servant and governmental mendacity remain the desideratum of the day.
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