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Shadowstats is complete garbage. Their "alternative measurement" of prices is to take the BLS numbers and add 3.5% to it. That is it. See "The [$175] subscrip
by rssoconnor 3y ago
Shadowstats is complete garbage. Their "alternative measurement" of prices is to take the BLS numbers and add 3.5% to it. That is it. See "The [$175] subscription price of hyperinflation-predicting ShadowStats hasn't changed in 8 years"[0] from 2015. In 2024 it is still $175, so make that 17 years.
If you want an actual alternative to BLS numbers, there is the https://thebillionpricesproject.com/ https://thebillionpricesproject.com/ from MIT.
[0] https://theweek.com/speedreads/449820/subscription-price-hyperinflationpredicting-shadowstats-hasnt-changed-8-years https://theweek.com/speedreads/449820/subscription-price-hyp...
- kennethh 3y agoIt is not a very good argument that their subscription service has not increased in price in 17 years. Many online services have kept their price but the number of users have increased a lot. The important thing about ShadowStats is that they show different methods of calculation price inflation. Calculating inflation from prices is not easy since people tend to consume more chicken or pork of beef is getting more expensive. If you still only consume beef the price index do not show your personal reality, and this reality is different for all people. In aggregate everything that is produced get consumed over time, so the total prices paid is always connected to the total amount of money available.
- rssoconnor 3y agoThe "take the BLS numbers and add 3.5%" methodology isn't a real methodology. And regardless of their methodology, the numbers given by ShadowStats are just manifestly wrong. You can calculate the implied cumulative effective price increase and over the last 17 years and it is just observationally wrong for anyone who has lived for the last 17 years. It is not even close.