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Taleb makes this same point about inflation repeatedly - that the things he plans on spending money on in the future may inflate far more than the CPI.
by alasdair_ 6y ago
Taleb makes this same point about inflation repeatedly - that the things he plans on spending money on in the future may inflate far more than the CPI.
- jkhdigital 6y agoYeah, almost like inflation is concentrating into a handful of Giffen (I'm using the term loosely) goods--healthcare and education most notably.
- smabie 6y agoAnd what do Healthcare, education, and housing have in common? Massive influx of money by the government.
- lkrubner 6y agoActually, you should say: "Massive indirect unguided subsidies of money by the government." Where the government does something directly, the results can be good. Look at Medicaid, which is generally thought to be the most cost effective form of health insurance that exists in the USA. The government overseas that directly. But everywhere the government tries to offer end consumers a subsidy, so they can then try to use it toward some social goal, the result seems to be inflation.