Great explanation. I find it funny that we're adjusting for increased "quality" when, experientially, it seems like the quality of many, many items is only going down (example: it's hard to find real wood furniture these days, even at "high end" stores). The washing machine was a great example. Do you think regulation is the main reason for all of these quality decreases we're seeing, or what other factors do you think are at play? (I definitely agree regulation is a huge one, just curious as to what other factors might be involved.)
I don't know why we let "official" stats cloud our eyes from seeing what's really going on right in front of us.
What's also really frustrating is that employers rely on these official inflation stats to adjust pay increases, so if they are falsely deflated, it only compounds the problem of pay increases not keeping up with inflation numbers.
Maybe I'm wrong, but when it comes to washer/dryers, I would look hard at Speed Queen. They are the only products they make and they also make commercial models for laundromats, which consumers can purchase (as well as consumer models, of course). When you don't make microwaves, stoves, refrigerators, etc., you better make your product great.
Yes, the BLS knows that the real numbers are not really real. Hence the hedonic adjustments. Worse than food, the OER affects about 25% of the inflation gage. When everything is an algorithm, it allows Al Gore (or others) to make adjustments that hide the real numbers.
The numbers are fake because the truth would let the cat out of the bag. Fiat is the best control mechanism governments have to centralize power. The majority are not ready to accept they have been deceived. Believe your lying eyes, or don’t. Thankfully more people are waking up to the truth by asking a simple question: “what is money?”
To be fair on the Five Guys receipt, the amount of fries in a "small" fry is easily enough for 3 adults. It is why I would never order fries when alone at Five Guys. This is also the "regular" burger which is actually 2 beef patties. They do this on purpose, so if you want the single patty, which is still a big burger, you have to order the "small" burger. It is trick semantics on their menu, which I always thought totally deceiving. So he did get a massive burger and the bacon was integrated to the main price. Also, this is a fast food restaurant where you order at the counter and pick up your order there and this guy still tipped $2.19. There's no table service, so apparently he wanted to throw more money away and then complain about it! Not arguing food at restaurants isn't expensive, but Five Guys has ALWAYS been much more expensive than any other burger chain.
The Fed doesn't eat or use energy so why should we? Even crappy 2% inflation adds up in the long run. If the government didn't make up lies about everything, they would have nothing to do all day.
It pays the government to lie about inflation. Smaller SS adjustments, smaller government employee cost of living adjustments, and the list goes on. They have a financial incentive to lie.
Don't forget substitution - bread scarce and expensive, let them eat cake (actually, it was brioche). And of course the manipulation of weighting, the joke that is OER, and bogus seasonal adjustments.
Great explanation. I find it funny that we're adjusting for increased "quality" when, experientially, it seems like the quality of many, many items is only going down (example: it's hard to find real wood furniture these days, even at "high end" stores). The washing machine was a great example. Do you think regulation is the main reason for all of these quality decreases we're seeing, or what other factors do you think are at play? (I definitely agree regulation is a huge one, just curious as to what other factors might be involved.)
I don't know why we let "official" stats cloud our eyes from seeing what's really going on right in front of us.
What's also really frustrating is that employers rely on these official inflation stats to adjust pay increases, so if they are falsely deflated, it only compounds the problem of pay increases not keeping up with inflation numbers.
Maybe I'm wrong, but when it comes to washer/dryers, I would look hard at Speed Queen. They are the only products they make and they also make commercial models for laundromats, which consumers can purchase (as well as consumer models, of course). When you don't make microwaves, stoves, refrigerators, etc., you better make your product great.
Well explained today, and the memes were fantastic :)
Yes, the BLS knows that the real numbers are not really real. Hence the hedonic adjustments. Worse than food, the OER affects about 25% of the inflation gage. When everything is an algorithm, it allows Al Gore (or others) to make adjustments that hide the real numbers.
The numbers are fake because the truth would let the cat out of the bag. Fiat is the best control mechanism governments have to centralize power. The majority are not ready to accept they have been deceived. Believe your lying eyes, or don’t. Thankfully more people are waking up to the truth by asking a simple question: “what is money?”
To be fair on the Five Guys receipt, the amount of fries in a "small" fry is easily enough for 3 adults. It is why I would never order fries when alone at Five Guys. This is also the "regular" burger which is actually 2 beef patties. They do this on purpose, so if you want the single patty, which is still a big burger, you have to order the "small" burger. It is trick semantics on their menu, which I always thought totally deceiving. So he did get a massive burger and the bacon was integrated to the main price. Also, this is a fast food restaurant where you order at the counter and pick up your order there and this guy still tipped $2.19. There's no table service, so apparently he wanted to throw more money away and then complain about it! Not arguing food at restaurants isn't expensive, but Five Guys has ALWAYS been much more expensive than any other burger chain.
The Fed doesn't eat or use energy so why should we? Even crappy 2% inflation adds up in the long run. If the government didn't make up lies about everything, they would have nothing to do all day.
It pays the government to lie about inflation. Smaller SS adjustments, smaller government employee cost of living adjustments, and the list goes on. They have a financial incentive to lie.
Don't forget substitution - bread scarce and expensive, let them eat cake (actually, it was brioche). And of course the manipulation of weighting, the joke that is OER, and bogus seasonal adjustments.