Our Broken Economy, in One Simple Chart

Re:Our Broken Economy, in One Simple Chart by SilasX on Tuesday August 08, 2017 @02:31PM (#14960984)

I keep bringing it up, since it's the most egregious use of that logic, the time that the Fed insisted inflation must be low because the new iPads have faster CPUs[1]. As if a better quality luxury good (whose faster CPU is almost entirely eaten by new bloat) somehow cancels out higher food, healthcare, education, and housing costs.

Interestingly, they never seem to adjust inflation upward because of product debasements (other than price per unit in a bundle), so that seems to bias the numbers.

[1] http://www.reuters.com/article/us-usa-fed-dudley-ipad-idUSTR...

[ Parent | on HN ]

Re:Our Broken Economy, in One Simple Chart by candiodari on Wednesday August 09, 2017 @01:45PM (#14971728)

They are rich:

> Dudley tried to explain how the Fed sees things: Yes, food prices may be rising, but at the same time, other prices are declining. The Fed looks at core inflation, which strips out volatile food and energy costs, to get a better sense of where inflation may actually be heading.

Guess exactly when food and energy costs were declared volatile. If you thought "when they went up" you'd be right.

If you disregard those actual inflation is 5%.

[ Parent | on HN ]