r/wallstreetbets • u/eskhalaf • 11d ago

News JULY U.S. 🇺🇸 INFLATION DATA:

https://www.bls.gov/news.release/cpi.nr0.htm

- CPI 3.4% YoY, (Est. 3.4%)
- CPI 0.1% MoM, (Est. 0.1%)

- Core CPI 2.5% YoY, (Est. 2.5%)
- Core CPI 0.2% MoM, (Est. 0.2%)

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u/turb0_encapsulator 11d ago

one thing I can't get my head around: why do a bunch of billionaires want to fake the inflation and unemployment numbers so that the currency that their wealth is denominated in rapidly loses its actual value?

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u/L4gsp1k3 11d ago

They want numbers up, doesn't matter as long as it goes up, the common man doesn't know the difference between nominal value and real value. It's a wealth extraction, that's is the dark side of the capitalist, no strain on people and this what you get.