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I updated my reply with data showing real wage drop, shortly after you responded. In addition, id like to add opinion that the current cpi does not accurately r
by elhudy 5y ago
I updated my reply with data showing real wage drop, shortly after you responded. In addition, id like to add opinion that the current cpi does not accurately reflect healthcare costs, which are continuing to skyrocket unchecked [1].
Housing costs will also lag as is standard. so we might not see that effect entirely now but we will in the next year or two.
I’m not sure where exactly the goalposts are in this conversation but as you can tell I’m extremely bullish on inflation and the wealth gaps between the poor and wealthy widening. I believe the government is past the point of no return on debt and will need to continue to print money indefinitely to stay caught up. If we were using 70s measures of inflation i suspect we would be hovering around 13%+. Peers who are experts and leaders in finance and economics are of the same opinion - and are currently making a killing off this money printing episode.
I would love to hear more dissenting opinion though and am definitely open to it.
[1]https://www.ncpssm.org/documents/social-security-policy-papers/the-cpi-e-a-better-option-for-calculating-social-security-colas/ https://www.ncpssm.org/documents/social-security-policy-pape...