3 ms·
Innumeracy? Sure there's tons of innumeracy in the world, but the measures of inflation are so obviously manipulated to indicate low inflation. Really the only
by taolegal 4y ago
Innumeracy? Sure there's tons of innumeracy in the world, but the measures of inflation are so obviously manipulated to indicate low inflation. Really the only accurate way to get a sense of inflation is expansion of the money supply - they can't really lie about that. Everything else is a measure that, in one way or another, incentivizes politicians and economists to lie about their own performance, prowess and power.
Inflation too high before an election? Change the basket of goods. Substitute quality meat for some highly-processed, highly-subsidized puck of corn/soy garbage.
Another thing that even the supposed numerate geniuses among us frequently ignore: inflation compounds!