Re:It takes now 53 weeks salary to earn same as 30 weeks in ...
by o_nate on Thursday February 20, 2020 @04:12PM
(#22378681)
This tweet was poorly worded, I agree. What he should have said was that the increasing prices of new cars did not show up as inflation in the way economists calculate it, because of the way they adjust for quality improvements. In the full article he explains this more clearly: https://news.ycombinator.com/item?id=22378595
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Re:It takes now 53 weeks salary to earn same as 30 weeks in ...
by Will_Do on Thursday February 20, 2020 @04:30PM
(#22378827)
The article is also very confusing. He alternates between considering the inflation rate and not considering the inflation rate. I still don't know if he is claiming that BLS is claiming that, for cars, the inflation rate is 0.
I also find his COTI quite misleading. It seems he is counting 100% of health care expenses (100% of premiums) but not counting the ~70-80% of premiums an employer pays in median weekly earnings. In the college field, he also uses a semester if college tuition for some reason. Since this is a 1 time cost, it should almost surely be accounted for differently.