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This article is complete bullshit because it effectively corrects for inflation twice. The CPI is a measure of the nominal change in cost of a basket of goods.
by topynate 4y ago
This article is complete bullshit because it effectively corrects for inflation twice. The CPI is a measure of the nominal change in cost of a basket of goods. This should be compared, like for like, to nominal income, not inflation-adjusted income. The CPI was already used to adjust the income to which it's compared in this article!
- modeless 4y agoThe fact that this got upvoted to the top despite being complete bullshit just shows how desperately people want this to be true. 170+ people clearly upvoted the headline and didn't understand the article. And everyone in the comments is knee-jerk posting their own personal rants about finance with only a tangential connection to the article. What a dumpster fire of a post.
- rrrrrrrrrrrryan 4y agoThank you for summing this up so succinctly. I knew they comparing these two numbers was wrong, but I couldn't quite articulate it.