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Yes — if you use a consistent measure, this latest inflation is the same rate as the late-70s/early-80s inflation. https://www.shadowstats.com/alternate_data/i

Yes — if you use a consistent measure, this latest inflation is the same rate as the late-70s/early-80s inflation. https://www.shadowstats.com/alternate_data/inflation-charts https://www.shadowstats.com/alternate_data/inflation-charts In fact, 2020s inflation (using historic measure) peaked at over 15% while the 1970s spike peaked below 15% — meaning that this latest inflation sets the record compared to the 1970s. https://www.federalreservehistory.org/essays/great-inflation https://www.federalreservehistory.org/essays/great-inflation Ignorant incredulity and “back in my day!” aren’t good arguments.

foobiekr 3y ago
Shadowstats has admitted to just making up their data. Not exactly a compelling source. Best case they are just incompetent: https://en.m.wikipedia.org/wiki/Shadowstats.com https://en.m.wikipedia.org/wiki/Shadowstats.com
- hughesjj 3y ago
  JFC > Responding to prior criticisms made by economist James Hamilton, John Williams explained in a private phone call that Shadowstats does not actually recalculate BLS data, rather, the Shadowstats CPI merely adds a constant to the officially reported numbers.[25] >> I’m not going back and recalculating the CPI. All I’m doing is going back to the government’s estimates of what the effect would be and using that as an add factor to the reported statistics Same article says he charges $175/year/subscription since 2006. I'd love to get paid that much to do a high school level introductory programming assignment. The business logic is literally a one liner X-D
ffgjgf1 3y ago
Inflation was consistently very high in the 70s while time time it peaked in 2022 and then went down relatively rapidly. Of course it might rebound but until that happens it’s hardly comparable.
AnimalMuppet 3y ago
You don't slavishly believe the government inflation data? That's fine; nothing wrong with that. But don't slavishly believe Shadowstat's inflation number either.

foobiekr 3y ago

Shadowstats has admitted to just making up their data. Not exactly a compelling source. Best case they are just incompetent: https://en.m.wikipedia.org/wiki/Shadowstats.com https://en.m.wikipedia.org/wiki/Shadowstats.com

hughesjj 3y ago
JFC > Responding to prior criticisms made by economist James Hamilton, John Williams explained in a private phone call that Shadowstats does not actually recalculate BLS data, rather, the Shadowstats CPI merely adds a constant to the officially reported numbers.[25] >> I’m not going back and recalculating the CPI. All I’m doing is going back to the government’s estimates of what the effect would be and using that as an add factor to the reported statistics Same article says he charges $175/year/subscription since 2006. I'd love to get paid that much to do a high school level introductory programming assignment. The business logic is literally a one liner X-D

ffgjgf1 3y ago

Inflation was consistently very high in the 70s while time time it peaked in 2022 and then went down relatively rapidly. Of course it might rebound but until that happens it’s hardly comparable.

AnimalMuppet 3y ago

You don't slavishly believe the government inflation data? That's fine; nothing wrong with that. But don't slavishly believe Shadowstat's inflation number either.