Occupy Wall Street For Dummies and Idiots VIDEO

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The Real story behind Occupy Wall Street, the bank fraud and corruption of our political system!
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END THE FED!!! STOP THE BAILOUTS!!! JAIL THE FRAUDSTERS!!!


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VIDEO: MISSOURI THE BEAUTIFUL Take a patriotic tour of the Show Me State's natural wonders . . ========================================================== .

Important Note: FAIR USE NOTICE: This blog may contain copyrighted (©) material the use of which has not always been specifically authorized by the copyright owner. Such material is made available to advance understanding of ecological, political, human rights, economic, democracy, scientific, moral, ethical, and social justice issues, etc. It is believed that this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior general interest in receiving similar information for research and educational purposes. "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use." . ________________________________________________________________________

NO MORE NUKES FILES: Callaway II Nuclear Plant Permit Shot Down Again

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Callaway II down for the count – again

by: Tim Sampson
missouri-news.org
October 8, 2011
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JEFFESON CITY, Mo. – Hope of bringing back Callaway II flickered to life briefly on the floor of Missouri House of Representatives this week only to be snuffed out again – as it has been often times this year.
During floor negotiations over the jobs bill at the heart of the current, contentious special legislative session, Rep. Chris Kelly made a last ditch effort to attach an amendment that would have put the issue of repealing the so-called CWIP law from the Missouri constitution and cleared the way for public financing of a second nuclear power plant in Missouri.
“When we are in economic trouble, the best solution is to build something,” said Rep. Chris Kelly, D-Columbia, who offered the amendment.
CWIP, which stands for constructions work in progress, was first passed by Missouri voters in the mid-1970s in response to the building of the first nuclear reactor in Callaway County. The law forbids utility companies from raising rates on customers to finance the construction of new power generating facilities that are not yet operational. Throughout the current special session and the preceding regular legislative session, a consortium of utility companies led by Ameren Missouri has led the charge to try and repeal this law, but with no success.
The original bill to repeal CWIP was sidelined, in part, by renewed controversy over nuclear power stemming from the disaster at the Fukushima Daiichi nuclear power plant in Japan earlier this year. Although an attempt to salvage the bill in the final days of the regular session was made, it was ultimately unsuccessful.
That led to Kelly’s amendment. With the Callaway II bill not on the formal agenda for the special session, the only route for supports has been to try and attach the language to another piece of legislation.
But the language was tossed out on a procedural ruling by House Speaker Steve Tilley, R-Perryville. He said the language was not germane to the main content of the jobs bill, which deals primarily with economic development incentives and tax credit reform.
But Kelly said the jobs bill has grown from its initial scope of reforming tax code, and he said construction of a second nuclear reactor at Callaway would bring jobs to mid-Missouri.
“The concept, the very thought that anything could be beyond the scope of this legislation is ludicrous,” Kelly said.
But others disagreed. Rep. Rory Ellinger, D-St. Louis, spoke against the amendment, arguing that its inclusion in the bill would sink it and take down other provisions, including $360 million in proposed foreign trade incentives for the Lambert-St. Louis Airport area.
“The very issue of nuclear power is in its nature fundamentally controversial,” Ellinger said. “There’s no question about that. No matter how the people have voted, that has nothing to do with the Aerotropolis Bill.




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VIDEO: MISSOURI THE BEAUTIFUL Take a patriotic tour of the Show Me State's natural wonders . . ========================================================== .

Important Note: FAIR USE NOTICE: This blog may contain copyrighted (©) material the use of which has not always been specifically authorized by the copyright owner. Such material is made available to advance understanding of ecological, political, human rights, economic, democracy, scientific, moral, ethical, and social justice issues, etc. It is believed that this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior general interest in receiving similar information for research and educational purposes. "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use." . ________________________________________________________________________

GMO Giant Monsanto Caught Cooking It's Books

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Monsanto reports 4th quarter loss, will restate earnings

  THE ASSOCIATED PRESS
October 6, 2011
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ST. LOUIS • Monsanto's fourth-quarter results beat Wall Street expectations. But the company says it has to restate the last two year's earnings because of a federal investigation into its herbicide sales.
The world's biggest seed company on Wednesday said a U.S. Securities and Exchange Commission will prompt it to restate earnings irregularities arising from incentives it paid dealers of its Roundup Herbicide.
The St. Louis company said it had a net loss of $112 million, or 21 cents per share, for the quarter ended Aug. 31. Monsanto Co. said that adjusted for one-time items, the loss was 22 cents per share. Revenue rose to $2.25 billion from $1.95 billion last year.
Analysts surveyed by FactSet had expected an adjusted loss of 27 cents per share on revenue of $1.91 billion.

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VIDEO: MISSOURI THE BEAUTIFUL Take a patriotic tour of the Show Me State's natural wonders . . ========================================================== .

Important Note: FAIR USE NOTICE: This blog may contain copyrighted (©) material the use of which has not always been specifically authorized by the copyright owner. Such material is made available to advance understanding of ecological, political, human rights, economic, democracy, scientific, moral, ethical, and social justice issues, etc. It is believed that this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior general interest in receiving similar information for research and educational purposes. "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use." . ________________________________________________________________________

Missouri River Cleanup Towboat in Hermann

The River Cleanup towboat pushed into Hermann Monday evening with a sand flat trash barge and house barge for crew quarters preparing for a week of educational activities with local school children and a cleanup of the river on Saturday. 
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‘We All Live Downstream’

By Karen Cernich
emissourian.com
October 5, 2011

You may not pay any attention to the trash you see along the roads in your neighborhood or any of the streets around town, but those empty water bottles, soda cans, Styrofoam cups, plastic drinking straws and other bits of plastic that you see lying on the ground, forgotten, are ending up in the Missouri River.
Heavy rains and winds carry the trash from the streets into storm drains and creeks, which then empty into the Missouri River and eventually reach the oceans.
Steve Schnarr, program director with Missouri River Relief, “a grassroots, volunteer and equipment-based organization dedicated to reconnecting people to the Missouri River through hands-on river cleanups and education events,” describes it as “incidental trash,” or in other words, trash left behind by well-meaning people who just weren’t paying attention and are unaware of how their forgotten trash could end up polluting rivers and oceans.
Schnarr has seen plenty of incidental trash over the last 10 years as he and teams of volunteers have hauled ton after ton of trash from the Missouri. Last year alone the group pulled out 592 tons of trash.
Missouri River Relief will be in Washington next week to lead a series of events, including a hands-on educational workshop with local fourth-, fifth- and sixth-graders on Wednesday and Thursday, a fundraising dinner on the barge Thursday evening and a daylong cleanup on Saturday.
A river festival also will be held Saturday from 11 a.m. to 5 p.m. (See story on 5C.)
It’s all part of the Big Muddy Clean Sweep, the keystone event marking Missouri River Relief’s 10th anniversary this year.
Schnarr is currently looking for volunteers to help with the cleanup here. People can contact him ahead of time by calling him at 573-289-2077 or emailing him at steve@riverrelief.org, or they can show up Saturday morning at 9 at the Washington riverfront.
Missouri River Relief has led cleanups in Washington several times before but this time will be a little different. The crew will be arriving by barge.
The River Cleanup towboat will push into town early next week with a sand flat that looks likes a giant dumpster, a house barge that features the crew’s quarters and kitchen, and a work flat which is simply a flat work area.
This week the boat is docked in Hermann. It arrived Monday evening for a week of activities that will end in a cleanup there on Saturday.
When it leaves headed for Washington, there are no plans to stop along the way, but Schnarr said if people in between Hermann and Washington are inspired to conduct their own cleanups in those places, they can leave the bagged trash at the bank, call him (573-289-2077) to give its location and the barge will stop to pick it up.
‘We Definitely See a Pattern’
At first glance, the river and its banks may look pretty clean, no trash in sight. But when you look closer, you begin to notice it.
Because of the flooding earlier this year, much of the trash has been pushed up into the woods along the banks, said Schnarr. During the clean up in Jefferson City last week, a crew found a slew of trash 150 yards into the woods.
Schnarr said he doesn’t usually get upset anymore at seeing all of the incidental trash. He picks it up and works that much harder at educating people about it.
“We definitely see a pattern,” he said. “Below urban areas where streams come into the Missouri River, we will see all of this plastic garbage, mostly general trash that gets washed into storm drains during rain events and end up in the Missouri.”
Not all of the trash comes from such innocent sources, Schnarr realizes. There are definitely people who intentionally dump things into the river — tires, carpet, old broken down refrigerators that would cost them $10 to place in a landfill, used motor oil . . .
“Anything that costs people money to dispose of are things we find in the river,” said Schnarr.
There are also fishermen and “partiers” on boats who toss trash — beer cans or bait containers — over the side of the boat instead of bringing it back to shore to dispose of properly.
Part of that mindset can be cultural, said Schnarr. It’s something people have always done and they don’t realize the harm it’s doing.
Why Clean It Up?
Regardless of how the trash gets to the river, Schnarr and his crew make it their business to clean it up for several reasons, beginning with the fact that trash just looks ugly, plain and simple.
“If the river is your playground, your place to get nourished by nature, you don’t want a bunch of trash lying around,” said Schnarr.
More than that, however, is that this trash is doing damage, he said. Birds, fish and other wildlife are getting tangled in it, or worse, mistaking it for food and eating it.
“Biologists have found fish that have been damaged by plastics because they get tangled up in it or have swallowed it,” said Schnarr. “It’s more of a problem than people realize. All of it eventually washes into the oceans . . . and we’re starting to find out some of the problems this floating waste is causing.”
There is an “abnormal concentration” of trash that has collected in one area of the Pacific Ocean where historically organic material collects, said Schnarr. Animals have come to this area to feed on that organic patch, which is now mixed largely with trash and broken bits of plastic.
“They die because their stomachs are filled up with these plastics,” said Schnarr.
Another reason to clean up the trash is the chemicals that the trash is releasing into the water.
“If you’ve ever smelled a tire, what you’re smelling is petro chemicals, and those are ending up in our water stream from dumped tires,” said Schnarr, noting it’s also common to find bottles full of waste oil dumped in the river.
In addition to getting all of these items out of the river, the cleanups are about educating people, said Schnarr.
“We’re not going to make any major changes to that (trash patch) with this, but a big part of what we do is education,” he said. “We want to open people’s eyes to the impact cities have on the Missouri River.
“One-sixth of the continental U.S. drains into the Missouri.”
The education workshops that Schnarr will be leading with local school groups will have two main points to get across — the scale of the river and that trash lying on their street will eventually end up in the river — that includes lost balls that rolled away never to be seen again.
“They end up in storm drains and then in the river,” said Schnarr, picking up a mud-covered tennis ball from one of the bags collected in Jefferson City last week.
“We all live downstream,” Schnarr remarked.



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Important Note: FAIR USE NOTICE: This blog may contain copyrighted (©) material the use of which has not always been specifically authorized by the copyright owner. Such material is made available to advance understanding of ecological, political, human rights, economic, democracy, scientific, moral, ethical, and social justice issues, etc. It is believed that this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior general interest in receiving similar information for research and educational purposes. "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use." . ________________________________________________________________________

Morrison Mo. Branch May Be Saved: Baucus offers Senate Bill to Save Post Office, keep rural offices open

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Baucus offers plan to save Post Office, keep rural offices open

By Pete Kasperowiczthehill.com
October 5, 2011
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Senate Finance Committee Chairman and deficit-reduction supercommittee member Max Baucus (D-Mont.) on Tuesday introduced legislation that would help the U.S. Postal Service (USPS) avoid bankruptcy and prevent the closure of rural post offices, including some in his home state.
"The Postal Service has serious budget troubles to tackle, and Congress has a responsibility to play its part," Baucus said. "This bill provides the life preserver the Postal Service needs to stay above water while we work together to find longer-term solutions to preserve the postal services and jobs Montanans depend on."
The USPS is facing a severe fiscal crisis because it is required to make a $5.5 billion pre-payment to a retiree health benefit fund, and has said it cannot make the payment. The USPS was originally scheduled to make that payment by Sept. 30, but the continuing spending resolution approved by the House this week extends that until Nov. 18.
The Baucus bill, S. 1649, would require the Office of Personnel Management to estimate how much the Postal Service has made in overpayments to the Federal Employee Retirement System and use those to make its payment to the health benefit fund. Baucus said some estimates put the overpayment at $6.9 billion, more than enough to make the payment.
The bill also includes language that prohibits the USPS from closing rural offices if there is not another post office within 10 miles. Baucus just this week complained to Postmaster General Patrick Donahoe that the USPS is planning to close three rural offices in Montana, a decision Baucus said was made without allowing for enough public input.
"It is clear that the Postal Service decided to close these post offices without sufficiently considering community input, and I oppose moving forward with the closings until Montanans have more time to voice their support for their local post office," he wrote in an Oct. 3 letter.
Baucus added that while Donahoe has said the USPS would only make closure decisions after substantive consideration of public input, "this has sadly not been the case" in the instance of the three Montana offices. He also noted that nearly all of the 85 offices in Montana that might be closed are more than 10 miles from another office.

Original List of possible Missouri closings:

167 Missouri post offices are on the United States Postal Service’s hit list as targets for possible closing. They’re part of a postal service plan to possibly shut down almost 3700 small post offices nationwide.

The postal service says the closings are not done deals; the list is only of “possible” closings.

The service is considering closing about ten percent of its offices nationwide, saying the increase use of e-mail and the recession-caused decline in advertising mail produced a 58-million dollar financial loss last year.

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VIDEO: MISSOURI THE BEAUTIFUL Take a patriotic tour of the Show Me State's natural wonders . . ========================================================== .

Important Note: FAIR USE NOTICE: This blog may contain copyrighted (©) material the use of which has not always been specifically authorized by the copyright owner. Such material is made available to advance understanding of ecological, political, human rights, economic, democracy, scientific, moral, ethical, and social justice issues, etc. It is believed that this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior general interest in receiving similar information for research and educational purposes. "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use." . ________________________________________________________________________

Lisa Irwin: 10-Month Old Kansas City Baby Missing, No Leads, No Suspects

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Kansas City police hunt for clues on missing 10-month-old Lisa Irwin

By Camille Mann

cbsnews.com

October 5, 2011

 

__________________________________________________________________________ (CBS/KCTV/AP) KANSAS CITY, Mo. - Detectives looking for missing 10-month-old, Kansas City infant Lisa Irwin are struggling to find leads in the investigation Wednesday after an intense search a day earlier turned up few substantial clues, police said.  . . Lisa was last seen on Monday around 10:30 p.m. when her mother put her to bed in a crib, police said. Her father, who is an electrician, arrived home from an overnight shift about 4 a.m. . . He discovered Lisa missing and frantically called police, friends and family tell CBS affiliate KCTV. Authorities are speculating that the suspect entered through a bedroom window and snatched the baby from her bed as she was sleeping. Police said they issued the Amber Alert about 7:15 a.m. Tuesday in part because Lisa lived with both of her parents, who were at home and are accounted for. The alert was cancelled at 7 p.m. since the public awareness has been raised but police said they would continue to search for the baby. More than 100 law enforcement officials are looking for the girl. This includes local, state and federal officers including agents from the FBI. Officers on horseback are involved in the search along with police dogs. Firefighters with rappelling equipment are also assisting. The couple has two other young children who have also been interviewed. Police discounted the notion that Lisa could have crawled away. "The family is being cooperative with detectives," said Capt. Steve Young said reports the station."If there were any holes in their story, we would know by now. There are no holes in their stories. . . . There is a 10-month-old who isn't where she belongs and we are trying to find her. We will keep going bigger as long as we need to." Lisa has blue eyes and blonde hair. She is 30 inches tall and weighs between 26 and 30 pounds. She was last seen wearing purple shorts and a purple shirt with white kittens on it. The baby is described as having two bottom teeth, a small bug bite under her left ear, a beauty mark on her right outer thigh and currently has a cold with a cough. One neighbor told police that a stranger was seen walking with a baby wearing only a diaper about 1 a.m. in the street by the baby's home. Young said police are investigating this tip and ask for any and all tips from the public. Anyone with information is asked to call the TIPS Hotline at 816-474-8477. ___________________________________________ _____________________________________ . .

 

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Important Note: FAIR USE NOTICE: This blog may contain copyrighted (©) material the use of which has not always been specifically authorized by the copyright owner. Such material is made available to advance understanding of ecological, political, human rights, economic, democracy, scientific, moral, ethical, and social justice issues, etc. It is believed that this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior general interest in receiving similar information for research and educational purposes. "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use." . ________________________________________________________________________

Inflation Calculator: Purchasing Power of the Dollar Over Time,

VIDEO: Politicians Are Bought GET MONEY OUT OF POLITICS - MSNBC Dylan Ratigan Discusses Separation of Business and State, OWS
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Inflation Calculator: Money’s Real Worth Over Time

The inflation calculator uses U.S. government provided Consumer Price Index (CPI) data to measure the purchasing power of the dollar over time. It’ll provide a look into the present, past or any time between. (Consumer inflation climbed 3.8% over the past year. It increased 0.4% in August. The next U.S. government update is on October 19, 2011.)
How to use: You can start with any date from 1913 through 2011. The first date field can also begin in the present, like 2011, and then move backwards – each method is interesting. The inflation calculator starts with default values just to give a quick glimpse into how it works. Simply clear or edit the numbers with your own.
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Inflation Calculator* If in (enter year) I purchased an item for $ then in (enter year**) that item would cost: Rate of inflation change:

*Uses latest available CPI data. Next data update on Oct. 19, 2011.

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CPI Inflation Calculator Details

The CPI inflation calculator uses the U.S. Consumer Price Index for a given calendar year. This data represents the changed prices in goods and services purchased in the U.S.
For 2011, the latest monthly index value is used.

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Understanding Inflation: An Overview, Measuring and Its Role on the Economy

The amount a product costs should be the first decision a consumer has to make before they purchase a good or service. Consumers may find themselves asking what exactly makes a price rise and why their money can purchase less and less.
The answer to this question is inflation. What is inflation and why should any consumer care about inflation? A general overview of the inflation phenomenon, the main measures of inflation, and how inflation plays a role in the economy will all help a person better understand why their money seems to be worth less each year.

Overview of Inflation and its Pressure on the Economy: Spending, Demand and Supply

In order to truly understand inflation, the first step is listing the main cause of inflation pressures on the economy. Inflation begins initially and continues to occur due to sustained excess of spending in the economy. (Wilson 27)
This amounts to spending over and above what is considered average spending for the economy in past months. The type of spending that would cause inflation is "when people, groups, businesses, government, and foreigners all together "demand" or try to spend more than the economy can produce at full employment, prices in general will be bid up." (Ibid)
Basically what this amounts to is people all wanting to buy products and services, but there are not enough products or services to fulfill all the buyers. The prices will go up because manufacturers can sell the product at a much higher rate because there are so many buyers. The solution to the problem is really two separate incidences that must happen in order for prices to begin falling.
One of these solutions is "excess demand for goods and services is reduced" and the other solution is for "capacity of the economy to produce is expanded, the price level will continue to rise." (Ibid) Thinking about these two situations makes sense. If the demand for goods or services decreases then less people will want to buy and there will be more of the product for the remaining consumers. Also, if a manufactured item is rising because it is not manufactured in many factories and suddenly factories spring up all over to manufacture the product then the price will fall.
The demand and supply capacity are the cornerstones of inflation, but what also plays into inflation’s fluctuations is the money supply. The Federal Reserve Bank sets interest rates for borrowing of money. The lower the interest rate the greater amount of money that is borrowed, and the higher the interest rate the lesser amount of money that is borrowed. (Wilson 103) For example, if borrowing $1000 would cost 10% a year, a borrower would be paying $100 a year for the use of that initial $1000.
If, however, the Federal Reserve Bank lowers the interest rate to 5%, the amount the borrower would be paying per year would be cut in half. In the latter example, a borrower would be willing to take out a larger amount of money because it would cost them less. So, with a larger amount of cheaper money in the market, prices will begin to rise because the cost of that money would cause more people to borrow as compared to a higher rate of interest.
Money would essentially be worth less because the Federal Reserve allows it to be worth less by dropping the interest rate. The rise in prices would continue until the Federal Reserve once again decides to raise the interest rate. (Ibid)
The Federal Reserve utilizes these money techniques in order to help spur growth in the economy, but the downside to economic growth is always inflation.

Measures of Inflation: Consumer Price Index (CPI), Bureau of Labor Statistics (BLS) and the Bryan-Cecchetti model

An important concept of inflation is to pay close attention to inflation indicators. These "indicators" are indexes that signal a potential arrival of inflation for the country. Many measures of inflation exist, but the main types are the Consumer Price Index (CPI), Bureau of Labor Statistics (BLS), and the Bryan-Cecchetti model.

The Consumer Price Index (CPI)

The CPI is perhaps the most important indicator because it is the model that all other inflation models emulate in some way. The first step in understanding the CPI is to decipher the calculation of the index. The CPI is constructed from basic component indexes. Component indexes are those goods and services that a consumer purchases and those "components" are split into 207 items. (Moulton 13) Also, there are 44 more items included for the urban areas of the United States, and these two sets of items are multiplied together to a total of 9,108 components for the CPI. (Ibid)
For example, dairy products are considered just set of the components within the 9,108 components used to calculate the CPI. A problem arises with the CPI in that many products come and go in the market and it is up to the CPI to document these types of changes. This problem is overcome by the economists allowing for products to enter and leave the market as well as "estimating the indexes on the basis of samples used from all the items that consumers buy" for a given period. (Ibid)
This type of calculating gives economists as comprehensive a picture as one can get. The resulting figure is compared to previous time periods and an increase percentage or decrease percentage is discovered from the calculations. This increase or decrease percentage is the amount that general prices have risen or fallen in between those time periods. If the prices rise then the CPI will show the American public that inflation has occurred.
It is important that the CPI stay current with the ever-changing American economy. This is why the CPI is updated once every 10 years, and the last update occurred in 1998. (Greenlees, and Mason 3) This aspect of the CPI is important because of its relation to inflation. The CPI is used in many government programs including entitlements for school lunches and food stamps as well as the amount figured for tax deductions. (Ibid)
If the CPI is not allowed to evolve with the evolving economy, many people would not be allowed government benefits or tax deductions that they otherwise would deserve. Thus, the CPI is examined and revised so inflation pressures do not have as much an impact on government programs.

The Bureau of Labor Statistics (BLS)

Another measure of inflation that is essentially a CPI number but factored with a different set of variables is the BLS model. The BLS model highlights the fact that some parts of the CPI are considered volatile due to outside pressures such as weather and international conflicts.
Cogley suggests, "the Bureau of Labor Statistics computes a ‘core inflation’ measure that consists of a weighted average of all CPI components except for food and energy, which are removed because their prices tend to be more volatile." (94)
Energy can be affected by international conflicts and food supplies can be affected by the weather. Thus, the BLS model will demonstrate a less drastic change in inflation numbers if these events do occur.

The Bryan-Cecchetti model

A final measure of inflation that utilizes the CPI is the Bryan-Cecchetti model. This model takes the BLS model one step further. The Bryan-Cecchetti system still uses the CPI as a basis, because the economists that developed this model understand that the CPI is the greatest general measure to be utilized.
However, the Bryan-Cecchetti model "extends the BLS approach by automatically excluding large price changes from the CPI basket regardless of the sector in which they arise." (Ibid)
Bryan-Cecchetti correctly identifies that other sectors besides energy and food are affected by outside influences and can have a drastic rise or fall. However, the CPI is still considered the main standard for deciding the amount of inflation in the economy.

The Role Inflation Play on the Economy

Inflation would essentially mean nothing to the average consumer if it had no bearing on the economy. It is in the economy that inflation can either hinder a person’s ability to purchase or cause a lack of growth for businesses. The role inflation plays in the economy is substantial.
One of the main consequences of unwanted inflation is to the American worker. The first negative impact is a consumer’s shopping patterns and amount of money spent on goods and services. Inflation "causes consumers to shift the timing of their shopping closer to the receipt of income and creates incentives for shop owners to decrease their inventories." (Frenkel, and Mehrez 616)
Less of a product in the store and less purchasing power of consumers combines to create even more inflation in the economy to occur. It is a cycle that ultimately raises prices to a harmful degree. So, a consumer is left with little alternatives to combat the harm that inflation causes.
A person with less money will possibly lose their job (because of the lack of buying by other consumers), will consume less (because of the higher prices and lower supplies), invest less (because of the lack of money to invest), and finally rely more on credit (because the purchasing power of credit does not have to be paid until later). (Ibid)
Another problem with inflation in the economy is it decreases the value of the dollar. As discussed previously, more dollars in the stream of commerce or rising prices due to limited supplies will help lower the value of the dollar. In this country, for example, "the dollar lost about three-fourths of its value between 1965 to 1985; between 1985 and 2005, it lost a bit over one-third of its value." (Hoar 42)
This dramatic decrease in dollar value is due to inflation. This occurrence is precisely why older Americans will reminisce about how a movie and a Coke cost them less than a dollar. The dollar is still the same, but the amount it can purchase has decreased and will more than likely continue to decrease in the future.

Wrapping Inflation and the CPI Up

If a person is purchasing goods or services in America then inflation and the CPI are important concepts to understand. Understanding these two concepts will help a person better plan their future and allow them to stay calm when their money cannot buy them as much as before.

Works Cited

• Cogley, Timothy. "A Simple Adaptive Measure of Core Inflation." Journal of Money, Credit & Banking 34.1 (2002): 94+.
• Frenkel, Michael, and Gil Mehrez. "Inflation and the Misallocation of Resources." Economic Inquiry 38.4 (2000): 616-628.
• Greenlees, John S., and Charles C. Mason. "Overview of the 1998 Revision of the Consumer Price Index." Monthly Labor Review 119.12 (1996): 3+.
• Hoar, William P. "Myths about Inflation." The New American 12 Dec. 2005: 42+.
• Moulton, Brent R. "Basic Components of the CPI: Estimation of Price Changes." Monthly Labor Review 116.12 (1993): 13+.
• Wilson, George W. Inflation Causes, Consequences, and Cures. 1st ed. Bloomington, IN: Indiana University Press, 1982.

Inflation Article

Understanding Inflation: An Overview, Measuring and Its Role on the Economy written by James Richard Robbins III.

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