Yes but now you don't get to eat bacon and you're eating tofu bacon instead. You're still alive, but are you really living?

More seriously, that quality of life decrease is now completely ignored. I think it's worth acknowledging that it's happening.

Yeah but so much of happiness is relative and pure mindset. If you never knew about bacon or forgot about it, you would be just as happy.

And at the end of the day, it’s more important to be happy

You will own nothing. And you will be happy.

- a popular quote in the internet

wrong, it's a shitty metric. consumers care about inflation bc it represe ts their quality of life getting more expensive. trimming is the equivalent of saying "lol just downgrade" which is not a good answer.

you can't watch people switch their crab and milk for krab and powdered milk then be like "oh we'll just trim that out of inflation lmao". inflation is not supposed to measure change in average cost of necessities, it's supposed to measure change in a basket of basic goods.

And that basket naturally shifts over time as certain goods which have reasonable substitutes rise sharply in price, as technology changes, as tastes change, etc. It would obviously be silly to compare against the same basket of goods as was used in 1970.

There is some truth to it if you want to think about purchasing power and quality of life.

A TV today is not the same as a TV in 1970.

The groceries a family buys today are not the same Goods or quality as someone would have bought in 1920

Its supposed to measure the effects of inflation on the wealthy, which is why substitutes are important, because it impacts their grocery stocks.

You can starve.