Marc Faber Says Bernanke, Bureau of Labor Statistics Lying about Inflation Levels

In an interview with CNBC, investor Marc Faber said inflation in the U.S. is much worse than the official government line, and Federal Reserve Chairman Ben Bernanke and the Bureau of Labor Statistics are both lying about the actual level of inflation.

Faber said, “The annual cost of living increases are more than 5% today and the Bureau of Labor Statistics is continuously lying about the inflation rate, including Mr. Bernanke. He’s a liar. Inflation is much higher than what they publish.”

Faber said he sees the actual rate of inflation in the U.S. at about 5 to 8 percent, although allowing for people at different stages of their lives, e.g., those with or without children. Western European inflation he sees at levels a little under the U.S. rate.

Concerning the so-called recovery, Faber stated, “We have to realize that it’s an artificial recovery driven by ultra-expansionary monetary policies and also ultra-expansionary fiscal policies.”

Even so, for approximately the next six months Faber thinks the global economy will probably do okay, but longer out enormous problems will emerge, citing growing deficits.

Actual Marc Faber interview below.