Inflation (General)

by dan, Saturday, November 06, 2021, 07:43 (874 days ago) @ dulan drift

Those official government inflation reports are all bullshit and they know it. They even start believing their own bullshit. Years ago I saw an interview with a well known, establish economist (can't remember which talking head he was), and when questioned on people complaining about inflation and pointing out how much prices had gone up, he said they were wrong based on the government figures. "I know you think your dollar isn't going as far, but trust me, it is!" "But my dollar buys less food." "That's just an illusion!"

For one thing, at least in the US, all sorts of budgets are based somewhat on the inflation rate, including things like social security which is adjusted yearly for inflation. Unfortunately for those who depend on their social security, that adjustment is based on an artificially low rate.


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