2 ms·
Do you actually believe their numbers? If they where true, it would mean that the US has been in a depression for well over 10 years. That would be the longest
by effn 14y ago
Do you actually believe their numbers? If they where true, it would mean that the US has been in a depression for well over 10 years. That would be the longest depression in the history of the US, but somehow nobody noticed because the BLS managed to cover it up. It would also mean that there was never any housing boom, house prices where stable relative to other prices.
Do you actually believe this?
- msandford 14y agoI don't know where you went from "here look at this link, it's interesting" to "we've been in a recession for 10 years" but I would tend to agree with you actually. It's not that the BLS covered anything up, but rather than the CPI is a flawed metric and it's continual revisions always go in the favor of the central bank. When the dot com bubble burst we had the first ever recession where housing starts and car sales didn't decline. Doesn't that seem strange to you? That smells fishy to me. I'm not saying that the BLS are a bunch of evil geniuses who through brilliance and skull-duggery keep us all in the dark. I think it's much more plausible that a few key people jigger things to do political favors to others and it makes the CPI look lower than it should. It's the interaction of everyone in a marketplace that sets prices to begin with. Without people, you can't have prices that are meaningful. So if you want to say that people aren't competent to understand inflation, then it seems to me that you also have to say that people aren't competent to set prices. Since the latter is not true (by definition), I'd suggest that the former doesn't hold either.