JGalt
Diamond Member
- Mar 9, 2011
- 76,419
- 96,198
- 3,635
Biden has achieved what only President Jimmy Carter could have. The method of calculating the CPI was revised in 1998. If you use the same metrics that were used before then, the actual inflation rate is 15.1%
Let's go Brandon.
"Unfortunately for the political class, it is impossible to hide rising prices for virtually everything.
They developed novel ways to tamp down the inexorable rise in the Consumer Price Index, such as “hedonic adjustments,” geometric weighting, owners’ rent equivalent, and substitution. Government officials have baked outrageous claims right into the data. Ground beef is equivalent to steak and living in an apartment is just as good as homeownership -- that sort of thing.
The real inflation numbers may be close to double what’s reported officially. Alternative data sets are out there, but, predictably, bureaucrats are quick to dismiss the information as conspiracy theories published by fringe economists.
John Williams of Shadow Government Statistics (ShadowStats.com) is perhaps the best known of these. How does this “fringe” economist calculate inflation? By using the same methodology the Bureau of Labor Statistics itself employed in 1980.
That’s right. It’s the same calculation minus all of the tricks deployed to confuse people over the past 40 years."
Why The Federal Reserve Note’s Decline Is Far Worse Than Reported
Let's go Brandon.
Why The Federal Reserve Note’s Decline Is Far Worse Than Reported
"Unfortunately for the political class, it is impossible to hide rising prices for virtually everything.
They developed novel ways to tamp down the inexorable rise in the Consumer Price Index, such as “hedonic adjustments,” geometric weighting, owners’ rent equivalent, and substitution. Government officials have baked outrageous claims right into the data. Ground beef is equivalent to steak and living in an apartment is just as good as homeownership -- that sort of thing.
The real inflation numbers may be close to double what’s reported officially. Alternative data sets are out there, but, predictably, bureaucrats are quick to dismiss the information as conspiracy theories published by fringe economists.
John Williams of Shadow Government Statistics (ShadowStats.com) is perhaps the best known of these. How does this “fringe” economist calculate inflation? By using the same methodology the Bureau of Labor Statistics itself employed in 1980.
That’s right. It’s the same calculation minus all of the tricks deployed to confuse people over the past 40 years."
Why The Federal Reserve Note’s Decline Is Far Worse Than Reported
