Credit Policy: Orwellian Logic at Work?

Published in Business Line on Nov 17, 2007

The numbers coming from Governments the world over is truly "Black is White" -- look at Inflation numbers from the US Fed and our own RBI. Both these agencies have been debasing their currencies by printing money till their forests run out of trees... still they are claiming that Inflation is only 2-3%.

The general media seems to accept these audacious claims without even questioning it for a second. & this in an environment in which, Oil & Gold prices -- the two primary indicators of increasing Consumer prices -- are at their life-time highs.