3 ms·
> Ya. Because runaway inflation. Any day now. Just like after the last bailout [2009]. Look at the prices of housing, education, and medical care if you want t
by mhluongo 5y ago
> Ya. Because runaway inflation. Any day now. Just like after the last bailout [2009].
Look at the prices of housing, education, and medical care if you want to find inflation. The 3 things everyone wants are the 3 the consumer price index doesn't include ;)
- nradov 5y agoWrong. The CPI includes housing, education, and medical care.
- thatfrenchguy 5y agoIt’s not a post-2008 phenomenon but has been going on since the 1980s ;-)
- okl 5y agoCPI as well as PCE include those components. CPI: https://www.bls.gov/opub/hom/cpi/data.htm https://www.bls.gov/opub/hom/cpi/data.htm PCE: https://www.bea.gov/resources/methodologies/nipa-handbook https://www.bea.gov/resources/methodologies/nipa-handbook
- mhluongo 5y agoI should be more specific. CPI doesn't accurately track the growth in price of each of those markets. If you've gone to buy a house, put a kid through college, or experienced a large medical event, you understand the proxies in CPI are misleading. The same outlets claiming inflation isn't a problem also talk about the runaway markets for each of those.
- okl 5y ago> If you've gone to buy a house, put a kid through college, or experienced a large medical event, you understand the proxies in CPI are misleading. More objective than your appeal to anecdotal evidence.
- specialist 5y agoI'm very open to heterodoxy. What's a better metric? Spending power? Riffing on the inflation hawk trope: inflation should lead to higher wages. That hasn't happened. So I'm on board with criticisms of increasing money supply while wages remain stagnant.