The Inflation Report of the US Senator says: It will only get worse, Truflation Oracle reveals the true inflation rate-Economics
The Inflation Report of the US Senator says: It will only get worse, Truflation Oracle reveals the true inflation rate-Economics
America's media, central bankers and bureaucrats continue to discuss the increasing inflation in the United States, which has raised the cost of living and nationwide prices for goods and services. Senator Randa Paul, R-Ky., Believe that inflation "will only get worse", and he published a report on this topic and blamed the congress for excessive expenses for Coronavirus aid. In addition, a new decentralized method for inflation measurement called Truflation was introduced, a tool that provides a "daily, impartial, data -controlled inflation rate on the real market".
The inflation report by Rand Paul reveals the "hidden tax", the report accuses excessive expenses for the coronavirus help
The life of the living price and the costs for goods and services has dramatically in the last two years after the outbreak of corona pandemic. That of the US Ministry of Labor data published last week Inflation showed that inflation has been the highest for 40 years at 7 %, and the data of the consumer price index (CPI) of the last month were over 6 % in the third month in a row. The increasing inflation has caused the democratic party to worry about the topic, since they believe that it could harm the US President Joe biden ’s lead.
The rising CPI rate spurs a series of an Marktanalysten , economist, media experts and politician to debate The inflation question. The Republican Senator Rand Paul from Kentucky wrote a report entitled " The hidden tax ", which explains that inflation will probably get worse from here and that it harms American families and small companies. Paul blames the excessive expenditure of the US government to boost the economy during the Covid 19 pandemic.
PAUL's report states that 71 % of American households that earn $ 40,000 a year "stated that they have economic difficulties due to increasing prices" and 29 % of people who earn $ 100,000 a year. Paul's report states that the US government spent $ 4.9 trillion for Covid-19-stimuli and now "the Americans are faced with the hidden tax that represents a risk with any form of government expenditure: inflation".
The report by the Senator of Kentucky adds:
4.9 trillion US dollars of COVID-19-economic expenditure have led to one of the highest and most sustainable inflation rates in the history of the United States. Although the government's economic expenditure was intended as a form of relief and families with low and medium -sized incomes as well as small entrepreneurs were promised that their taxes would not increase as a result of these packages, the Americans now pay a "hidden tax". These guidelines.
Chainlink Oracle Truflation aims to be more precise than the cooked courses of the CPI
In addition to Paul's report, the gold bug and economist Peter Schiff published last week A blog entry mentioned: "The inflation freight train". The report explained that the consumer price index of the government " and common statistics from the website for the inflation aggregation shadowstets.com .
Data from ShadowStats show that the inflation rate may not be 7 %, but is much higher at 15 %. In addition, a chainlink supporter named Patrick Batelink tweeted target = "_ blank" href = "https://truflation.com/" rel = "noopener"> truffle , a tool that reports "the most objective, most frequent and most common inflation updates".
Batelink continued to talk about the tool and continued:
He represents the US inflation, with many other real Fiat inflation indices will follow, since goods and services become significantly more expensive worldwide. The Truflation Index API is made available for a decentralized chainlink oracle on-chain and made available for compatible smart contracts. The trflating oracle is an on-chain feed of our custom inflation index that is available via the Chainlink ecosystem.
On January 12, 2022, the official Trflatation-Twitter account tweeted about the government's official CPI data that was published last week. "The official US inflation rate is 40 years high", according to the truflation account tweeted . "Our data show that it is dramatically higher than the official rate. %Change in the year compared to December 2021: Official CPI: 7.0 %. Truflation index: 11.4 %." Essentially, truflation is an oracle, and to use the oracle, users have to use it chainlink to request a smart contract. In addition, the oracle of truflation Documentation so that users can learn how to use the index.
The truflation web portal notes that governments that report calculated inflation rates often use methods and formulas that display lower installments. "Governments and central banks are responsible for collecting information, calculating metrics and reporting to the public," explains the Truflation website. "The way in which inflation is calculated changes frequently and preferably methods that report lower inflation rates."
The website of the decentralized inflation index also raises the question:
If it were calculated according to methods that were discontinued in the 80s and 90s, the official inflation would be around 14 % and 10 %. The latest inflation indices that are currently tested by the Bureau of Labor Statistics report an even lower inflation. But why should the government be such an important key figure for the economy?
What do you think of the increasing inflation rates in the USA and the report by Senator Rand Paul, who says that inflation only gets worse? What do you think of the new Chainlink inflationoracle called Truflation? Share your opinion on this topic in the comment area below.
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