You: How much is this thing I need?
Cashier: It's $20.
You: But last year it was $15?
Cashier: Yes, but now it's cheaper because it's better.
You: But it's not cheaper. It's 33% more. It's $20.
Cashier: No, it's 50% better and $20.
You: What?
Cashier: Do you have an econ PhD sir?— Rudy Havenstein, wearing a jetpack near LAX. (@RudyHavenstein) June 14, 2018
Dealer: Yes, the car costs $10,000 more, but it has new safety features & a better stereo, so, after hedonic-quality adjustments, it's actually $1,500 cheaper than the old model.
You: Can I just buy the old model?
Dealer: No.
You: But my income didn't get hedonically-adjusted.
— Rudy Havenstein, wearing a jetpack near LAX. (@RudyHavenstein) July 30, 2020
If the Fed wants their model of inflation to be higher, simply stop using the BLS' ridiculous hedonic adjustments, goofy weightings, odd substitutions and outright replacement methodologies they've thrown in since the 1990's.
You'll get 6% or 8% CPI real quick.@federalreserve pic.twitter.com/DgkrEGEFU6
— Rudy Havenstein, wearing a jetpack near LAX. (@RudyHavenstein) August 25, 2020
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We ain’t seen nothin yet! Check out maneco64 on you tube daily.
You can skip all of the BS economic models and just ask “what ever happened to penny candy?”
Economics 101 for those who are puzzled by Fedspeak, or how to interpret data without the smoke and mirrors.
A few years ago, a 16oz package of frozen vegetables and containing 4) 4oz servings was replaced by a 12oz package that contained 4) 3oz servings. Rather than a 33% increase in price, it was 0 because the package still had 4 servings.
Liars figure and figures lie.
Instead of economics being the dismal science, it’s more like the rigged science.
Stunning – and to think these PhD’s rule the world. God help us. For real figures, check out:
http://www.shadowstats.com/
They are not stupid they know exactly what they are doing.
last year, 1 oz silver eagles sold for $20-$25.
this year they are $35+
that is not inflation, that is the depreciation of US dollar.
it has been going on since 1913, when (they) created the monster.
You: But my income didn’t get hedonically-adjusted.
Lol!
Not to mention no raises because of a stupendously idiotic shutdown that is still going on for no reason at all.
Gold 1913 – $20 an ounce
Gold 2020 $2000 an ounce
And NOTHING about it got any better, different, or anything else.
And let’s not foget that they are talking about PRICE inflation, not monetary inflation. They have pumped nearly 6 Trillion Dollars into circulation in the past 6 months alone. It has all “hidden” itself in the Stock Market bubble we are witnessing, and in the bank accounts of the too big to fails, the banks, the PPP recipients, and so much more. It is also hiding overseas and in countless other places. If/when it makes its way back and starts chasing after the limited supply of goods and services, price inflation will go through the roof…..for the same item as a week prior.
I’m guessing Rudy Havenstein is no longer SanFranNan’s hairstylist after “setting her up” this weekend.