Hello everybody and thank you for tuning in to the weekly report.

Inflation even hurts the penguins.

A recent video shows penguins at a Japanese aquarium rejecting the cheap fish the aquarium

has substituted for the higher quality fish the penguins are used to receiving.

The reason the aquarium switch fish is because rampant inflation has made it impossible

for the aquarium to afford the higher quality.

The penguins reaction illustrates the flaw in governments claiming that even if inflation

makes it impossible for you or penguins to eat steak or higher quality fish your quality

of life has not been diminished as long as you can afford hamburger or cheap fish.

Minimizing the impact of inflation by taking a let the penguins eat lousy fish approach

is the basis of the chain CPI that is one of the ways the government underestimates price

inflation.

According to John Williams of Shadow Government Statistics the real inflation rate calculated

without the government's modifications is over 15%.

While they continue to underestimate the true rate of price inflation government officials

have been forced to admit at least that price inflation has reached levels not seen

in 40 years.

This has led the federal reserve to raise interest rates.

But so far the feds rate increases have not stopped price inflation.

This is why the feds next rate increase may be a rare full percentage point increase.

Yeah, even if the fed raises rates by a full percentage point rates will still remain

well below what they would be in a free market.

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