Tuesday, April 06, 2010

Wager Update

Back in June of last year I offered two pounds of applewood bacon as stakes in a two year wager. The wager is that I believe that inflation plus unemployment will exceed 11.4% in June of 2012.

The current inflation rate is 2% with the Treasury having some difficulty selling its bonds and Social Security going negative. The official unemployment rate is 9.7%.

I'm not preheating the oven yet. But I really like bacon.

I hope for our country that I lose. But if I don't, I get bacon! There's always a bright side.


Andrew said...

Given that Shadowstats has inflation running at over 9% and inflation at about 17%, I doubt that you are in any danger of losing your bet. If anything, I think that you are being very conservative.

The Feds have been cooking the books for many years. Inflation does not include fuel, food, or pretty much anything else that has gone up. Their unemployment does not include those who are either long-term or short-term discouraged workers.

Does anyone with a non-government job REALLY think that inflation is only 2%? LOL

Rachael Storm said...

Well, Matt,

If I lose, so be it. After all, when Bacon is on the line, are there really any losers?

That being said, it's not 2011 yet.