The Great CPI Hoax

Kevin Phillips in The Huffington Post on "The Great 'No Inflation' Hoax." If inflation is systematically understated, who wins, who loses and who gets even? (Consumers lose, employers win, financial firms generally win.) Will Congress act to restore accurate accounting for inflation? Phillips thinks not. How, then, can well-meaning "social investors," or "philanthropists" restore transparency to our financial markets, and keep them honest? Phillips sees the most likely counterforce coming from forgeign investors who will, unless we clean up our inflation numbers, lose faith in our markets,  puting their money elsewhere, driving the dollar lower,  and with it our standard of living.