AI financial advice is surprisingly good if you ask the right questions

Re:AI financial advice is surprisingly good if you ask the r... by ls612 on Sunday August 02, 2026 @11:21AM (#49145444)

Real wages are higher today than they ever have been. The whole story about median real wages falling is entirely a result of Simpson’s paradox as applied to women entering the workforce from 1970-2000. This sort of axe grinding is just excusing people’s bad decisions it isn’t grounded in reality.

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Re:AI financial advice is surprisingly good if you ask the r... by someguynamedq on Sunday August 02, 2026 @11:52AM (#49145662)

How are your real wages being calculated?

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Re:AI financial advice is surprisingly good if you ask the r... by ls612 on Sunday August 02, 2026 @01:37PM (#49146524)

By taking nominal wages and then normalizing them to some specified year’s dollars using a price index. Yes I know you believe that price indices are made up but if anything CPI overstates inflation slightly because it doesn’t properly account for substitution across goods categories (for example if the price of apples increases people will buy fewer apples and more oranges, but the CPI won’t update the weights on apples and oranges immediately). That is why the Fed uses PCE as its target index, because it more accurately adjusts for substitution elasticities.

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