261–270 of 605 posts
" Food Prices Are Soaring Faster Than Inflation and Incomes " ...Food price rises ARE inflation!
Does anyone have the data sets and the formulas used to calculate the CPI? No, I don't think so, because they are hidden.
Until the data used to calculate the CPI is open, it is all speculation.
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Keynesian economics kool-aid, all the Phd Econ guys worship guy who had done some really shady stuff in his life. Nobel prize in economics was started by Sveriges riksbank in 1968, just to perpetuate same ideaologies. Shady af.
Keynes was also a child sex tourist who frequently preyed on boys, sometimes with friends https://skeptics.stackexchange.com/questions/2802/was-john-m... Edit: not sure why I’m being downvoted. He admitted in his diaries as a 30 year old man he would pay for sex from 16 year olds, and referenced others as “boys” without ages. By modern standards he would be a sex offender for life. We seem to hold all historical figu…
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Food price rises are not inflation. Inflation is an increase in the general price level, and specifically it's not an increase in the prices of a selected set of goods.
There is no significant inflation measure that does not include food. I agree they're not the entirety of the basket, but they are a core component. There is no "general price level".
CPI is a joke, they do something called hedonic adjustments to things like tech products etc. It's completely subjective and BS. Technology is deflationary, things should get cheaper because we go after producing them in creative ways one demand is high. CPI is absurd, it only perpetuates consumerism and punishes savers. We product 2x the food society consumes - mostly wasted away, just with some supply chain efficie…
Real question that nobody has yet answered: With what data CPI is even calculated? The data sources are all hidden. Related: https://news.ycombinator.com/item?id=26259279
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If only they could print productivity to match.
That's what automation is - it's one of the leading causes of increased productivity in the last half century.
>Frank Martin, bought the restaurant from Philippe Mathieu in 1927, and then the coffee was priced at a nickel.
" Food Prices Are Soaring Faster Than Inflation and Incomes " ...Food price rises ARE inflation!
Are they saying that food prices are driving the inflation vs the other factors? Housing is going up fast too isn't it?
Causally, inflation in the US is driven by the Fed's 2% average inflation target.
How those 2% distribute amongst the basket of good is a different question, of course.
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Keynes was also a child sex tourist who frequently preyed on boys, sometimes with friends https://skeptics.stackexchange.com/questions/2802/was-john-m... Edit: not sure why I’m being downvoted. He admitted in his diaries as a 30 year old man he would pay for sex from 16 year olds, and referenced others as “boys” without ages. By modern standards he would be a sex offender for life. We seem to hold all historical figu…
Irrelevant to the topic at hand.
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It is a feeling to ppl who want to start a family, buy a house. Official Inflation doesn't count for those. What else is the word that we can use here?
In my opinion it's a perceived increase in prices, which may or may not real, and may or may not have to do with inflation.
CPI is a joke, they do something called hedonic adjustments to things like tech products etc. It's completely subjective and BS. Technology is deflationary, things should get cheaper because we go after producing them in creative ways one demand is high. CPI is absurd, it only perpetuates consumerism and punishes savers. We product 2x the food society consumes - mostly wasted away, just with some supply chain efficie…
So housing and food has gone up dramatically, but still "inflation is low" is the story. Doesn't and hasn't passed the smell test in a decade.
> In the U.S., prices rose close to 3% in the year ending Jan. 2, according to NielsenIQ, roughly double the overall rate of inflation.
The soaring food inflation refers to developing countries like Indonesia, which are facing a different set of problems.