In America the Consumer Price Index Grossly understates the Rate of cost of living increases for the typical household

Marc Faber : ...what we have had is a lot of people have lost their jobs but have found jobs that pay less say they're suddenly involved in hospitality industry or in healthcare or in jobs that are just below paying jobs such as in restaurants or fast food and so forth and so on so that does not give you a clear picture if you just look at employment one would have to look at real wages , when you look at real wages or real house holds income one would have to determine who is calculating what is real because as you know in America the consumer price index in my view grossly understates the rate of cost of living increases for the typical household .....- in Capital Account RT America
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