Re:Public Comment on Inflation Measurement
by notabanker on Wednesday September 08, 2021 @06:19PM
(#28463754)
I would like to read a point-by-point critique of Shadowstats but have yet to come across one. The wikis you've listed are more muckraking in nature than a technical rebuttal.
A poorly done critique increases rather than diminishes the credibility of the target.
Re:Public Comment on Inflation Measurement
by tacostakohashi on Wednesday September 08, 2021 @06:23PM
(#28463791)
Re:Public Comment on Inflation Measurement
by mikeyouse on Wednesday September 08, 2021 @06:53PM
(#28464062)
Even more simply - Shadowstats consumer inflation calculator thinks we've had at least 7% inflation up until ~2010 and then 10+% since then. (http://www.shadowstats.com/imgs/sgs-cpi.gif?hl=ad&t=16286924...)
What in your life costs 500%+ more than it did in 1995 for the same product? No need for in-depth debunking when it's self-evidently nonsense.
Re:Public Comment on Inflation Measurement
by loeg on Wednesday September 08, 2021 @07:01PM
(#28464128)
> What in your life costs 500%+ more than it did in 1995 for the same product?
Reflexively, I thought of housing (Seattle area), but apparently that has only increased by 270% since 1995.[1]
Re:Public Comment on Inflation Measurement
by mikeyouse on Wednesday September 08, 2021 @07:07PM
(#28464173)
Yep - there are certainly some bubbles of costs that have increased substantially, but think about the tech in your pocket (1995 was the era of $500/GB hard drives - https://external-preview.redd.it/-ArYBjQcq6Go7QbkY5-Os9FFOtZ... and terrible $5,000 Gateway laptops) or the car in your driveway.
A new Civic costs something like 80% more than a 1995 one and is a remarkably nicer car. Gas prices are up something like 200% since then (but basically unchanged since the mid 2000s), but cars are far more fuel efficient so even that impact is blunted.. groceries, appliances, furniture, restaurants, entertainment...
Re:Public Comment on Inflation Measurement
by loeg on Wednesday September 08, 2021 @08:40PM
(#28464842)
Yeah, I guess healthcare is the other major one that's increased in cost. Although I'm not sure that's at literally 500% from 1995 either.
Re:Public Comment on Inflation Measurement
by symlinkk on Wednesday September 08, 2021 @07:36PM
(#28464370)
Yeah, the vast majority of millennials and later generations can’t afford a place of their own and are destined to be rent slaves for years, but think about the amount of Tik Tok videos you have in your pocket!
https://en.m.wikipedia.org/wiki/Talk:Shadowstats.com#Shadows...
Also, RationalWiki:
https://rationalwiki.org/wiki/Shadow_Government_Statistics