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that is what happens in debt driven world when progress stops and statistics lie. the "wealth" is created by printing money and acquired by those with better ac
by AzzieElbab 7y ago
that is what happens in debt driven world when progress stops and statistics lie. the "wealth" is created by printing money and acquired by those with better access, inflation indices do not account for things that actually matter - housing, education, healthcare
- thunderbird120 7y agoInflation indices almost always account for housing, education, and healthcare. https://www.bls.gov/cpi/questions-and-answers.htm#Question_10 https://www.bls.gov/cpi/questions-and-answers.htm#Question_1...
- Gibbon1 7y agoWe're conditioned to only think of rates as opposed to the integral of those rates over time. AKA economists constantly hammer that since difference between wage inflation and rent inflation is 'small' there is no problem. And if you say otherwise you're a moron. Consider the result of that 40 years though.
- AzzieElbab 7y agoYou are right I will have to look at the guidelines book at some point. My feeling they cannot possibly be right because observed wage stagnation combined with observed costs should never converge to low inflation. Do they even consider mortgages maturity length and interests when looking at monthly payments?
- stanferder 7y agoIn what sense has "progress" "stopped"?
- AzzieElbab 7y agoMy view of stoppage is that most of us are doing exactly the same jobs as we would 50 years ago. Yes, we have a sizable army of software developers, but outside of our silo things are not moving