The problem is how economists measure inflation is not how people think of an need to understand inflation. Beyond fuckery like hedonic adjustments and the like, if food, rent and fuel doubles, but luxury yachts, private islands and presidential bribes are stable, the two partially cancel each other out.
The main disconnect is that economists measure inflation in a broad sense, while people care about inflation in a narrow sense.
No one publishes numbers for the people’s inflation because heads would be on spikes in no time. I’m amazed at how stupid our civilization is where you can just tell people chocolate rations are up, and against their own experience, will believe it.
Be mad about everything being expensive but don’t be ignorant. And you’re so confident in your ignorance, too, “I’m amazed at how stupid our society is”. Like damn, this shit’s free to search for online, at least make sure you’re right first.
The problem is how economists measure inflation is not how people think of an need to understand inflation. Beyond fuckery like hedonic adjustments and the like, if food, rent and fuel doubles, but luxury yachts, private islands and presidential bribes are stable, the two partially cancel each other out.
The main disconnect is that economists measure inflation in a broad sense, while people care about inflation in a narrow sense.
No one publishes numbers for the people’s inflation because heads would be on spikes in no time. I’m amazed at how stupid our civilization is where you can just tell people chocolate rations are up, and against their own experience, will believe it.
Guy who doesn’t understand the CPI.
Like you do know they typically report consumer inflation based on “a basket of standard household goods”, right? No one uses yacht sales to measure inflation. You can even see what goods they use for the CPI in case you’re worried I’m a secret billionaire trying to get you to ignore my yacht deflation. https://www.bankofcanada.ca/rates/price-indexes/cpi/ https://www.statcan.gc.ca/en/statistical-programs/document/2301_D68_V1
Be mad about everything being expensive but don’t be ignorant. And you’re so confident in your ignorance, too, “I’m amazed at how stupid our society is”. Like damn, this shit’s free to search for online, at least make sure you’re right first.