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A comment on Summers: Inflation Reached 18% in 2022 Using the Government's Previous Formula. Parent comment

Re:Summers: Inflation Reached 18% in 2022 Using the Governme... by TMWNN on Saturday April 13, 2024 @08:57PM (#40027739)
>The memes of Arby’s 5 for $5 becoming 4 for $10 are more informative than the CPI numbers. Don’t let the shock at the grocery store wear off – it’s real and painful despite what the news tells you.

"The thing I have noticed is when the anecdotes and the data disagree, the anecdotes are usually right. There's something wrong with the way you are measuring it". —Jeff Bezos <https://sports.yahoo.com/amazon-ceo-jeff-bezos-explains-2123...>

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Re:Summers: Inflation Reached 18% in 2022 Using the Governme... by ben_w on Sunday April 14, 2024 @02:34AM (#40029131)
Huh, so that looks like a way to deal with Goodhart's law?
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Re:Summers: Inflation Reached 18% in 2022 Using the Governme... by tonymet on Sunday April 14, 2024 @03:12PM (#40033555)
Very good quote. “Data” is not conclusive , it’s just one piece of evidence. Usually it’s a noisy observation , with even noisier statistics applied.

People think “data” is the conclusion, when in fact it’s just a signal to ask more questions.

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