Or maybe, just maybe, the truth is that this ‘low inflation’ mantra is a complete crock, that real inflation is at least double what the bureaucrats say it is, and that these regularly-scheduled little white lies are getting out of control. Anyone interested in how government bureaucrats took a perfectly good metric for price inflation, the consumer price index, that worked so well for about 50 years, and using stupid games like ‘hedonics’ turned it into a totally meaningless number (“core” inflation omits such unnecessary items as food, shelter and energy) should check out http://www.shadowstats.com …
Comment by canuck99 — April 23, 2008 @ 1:48 pm
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Or maybe, just maybe, the truth is that this ‘low inflation’ mantra is a complete crock, that real inflation is at least double what the bureaucrats say it is, and that these regularly-scheduled little white lies are getting out of control. Anyone interested in how government bureaucrats took a perfectly good metric for price inflation, the consumer price index, that worked so well for about 50 years, and using stupid games like ‘hedonics’ turned it into a totally meaningless number (“core” inflation omits such unnecessary items as food, shelter and energy) should check out http://www.shadowstats.com …
Comment by canuck99 — April 23, 2008 @ 1:48 pm |