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Presidential debate number two it takes place tomorrow night but when it comes to voters they're number one concern.
Is not unemployment not the housing market.
But rising prices according to a new Fox News Paul yep that's right inflation is their top concern.
Also the top concern of our guest Peter Schiff -- Pacific capital CEO and chief global strategist here to tell us why you should be worried.
They -- I say it is all about gas prices because there is no inflation other than that.
It gives you see the big difference between women and men 44% of women identified rising prices.
As opposed to 38% -- it's not gas prices it's also food prices in fact I think it's interesting.
That twice as many people are worried about the inflation tax as all other federal taxes combined in fact you have more you have more people worried about inflation -- unemployment and housing.
Combined and you know Ben Bernanke when he last gave -- as testimony he specifically singled out the supermarket he said there's no inflation there.
Of course there is if there was no inflation people wouldn't be so worried about rising prices.
I was -- look at the CPI year every year the Consumer Price Index was up one point 7%.
Might be a little bit faster than -- wasn't recent months but -- on my chart of inflation.
Five double digit inflation north of ten person and 719.
To 81 double digit inflation.
Are these people who really don't know what inflation is.
-- the real thing big it is we've changed the way we measure it that's what's happened.
We have inflation do you think -- inflation was really is lows this CPI suggests.
That 41% of the people in that poll would have identified rising prices as their top concern the point -- were wrong.
-- under really as I think this fall is a lot more -- Accurate as far as what's happening to prices then the government's index.
We do need to worry about individuals.
Concerned about inflation because they can actually create yet.
Assuming that they're getting wage growth but there -- been virtually no wage increases no wage growth in recent years so.
But basically these companies can't pass on price increases the end of -- that.
You know it's not individuals that create inflation is -- federal government the Federal Reserve its quantitative easing that is inflation.
But you know what makes this inflation so much worse than the inflation in the seventies is at least back then the price of labor wages were also rising.
Now the price of labor is not rising in fact it's falling but the price of everything else is going up so it's even worse and the scary part is the Federal Reserve doesn't think inflation is high enough yet.
It wants to create more inflation.
Because it thinks it's gonna grow the economy and create jobs and help the housing market all it's gonna do is make the economy -- -- because it's it's gonna destroy even more purchasing power.
How do you think this shows up in the election that -- because they're not voting for Ben Bernanke.
Why don't look at -- is not what is -- talking about it look at the presidential and vice presidential debates none of the candidates was even asked about inflation.
Everybody wants to pretend it doesn't exist because that's the only way we can justify.
0% interest rates if we admit the obvious that inflation is a problem.
Then we have to raise interest rates and now we've got a -- -- problem so instead the government lies about inflation because they can't admit the truth but the voters know the truth because they have that they actually have to pay the prices that the government claims aren't even going up.
-- -- -- As always fired up about inflation we like -- Peter -- to be well take care.
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