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Re:Summers: Inflation Reached 18% in 2022 Using the Governme... by mint2 on Saturday April 13, 2024 @09:35PM (#40027939)
There’s a number huge flaws in all that logic.

Comparing Palo Alto circa 1960 to Palo Alto circa 2020 is frankly bizarre. But if we’re using that logic why stop at 1960? Coulda had that land for almost nothing in 1700, so there was infinite inflation from 1700 to 1960! Gasp!

But what’s the result if we look at the price of a compute that a 1960 worker could buy vs a 2020 person? Let’s see a modern household has the equivalent to a very large number of 1960 mainframe computers, looks like their buying power has gone up infinitely!

Or lots in prime La neighborhoods, super affordable in 1860! That means people have lost so much purchasing power because they’re hard to afford now!

Re:Summers: Inflation Reached 18% in 2022 Using the Governme... by roenxi on Sunday April 14, 2024 @12:12AM (#40028590)
> so there was infinite inflation from 1700 to 1960

Infinite is exaggerating but the US dollar has lost >95.0% of its value since the 1700s. So that observation is technically wrong but intuitively is fairly reasonable. If you assumed infinite inflation since then you'd be accurate enough for casual conversation.

Re:Summers: Inflation Reached 18% in 2022 Using the Governme... by cmmeur01 on Sunday April 14, 2024 @12:52AM (#40028757)
Love to eat and live in compute.