Re:Ask HN: What's Going on with the US Economy?
by bediger4000 on Wednesday October 30, 2024 @08:27PM
(#42002168)
Can you elaborate on the lies about inflation?
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Re:Ask HN: What's Going on with the US Economy?
by Am4TIfIsER0ppos on Thursday October 31, 2024 @07:26AM
(#42005688)
So called core inflation. The figure with food and energy removed as though they were inconsequential.
Basket of goods. Government picks and chooses what it puts in the basket letting it massage the figures. Coffee was supposedly taken out of the US basket this year but I cannot find my source, only 2nd hand reports.
Electronics. The cost of equivalent TVs go down thereby pushing inflation down. Same for smartphones, computers, and so on. People are less inclined to buy when grocery bills go up 50%
"inflation is transitory". The lie of all lies because it is permanent. Economists and government mean it as the rate of change of prices, a derivative, whereas people just see inflated prices.