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0 pointsastrange6mo ago0 comments

Slightly overestimates. Alternatives like Truflation show it lower.

You may be thinking of Shadowstats, which is run by a crank who just takes the official numbers and adds a number he made up to them.

I don't know why cranks always think inflation is secretly higher. Deflation is a lot worse than inflation, so if you're a doomer, believing in deflation would be more effective.

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jcalvinowens6mo ago

The idea that CPI sucks is far from a conspiracy theory... not sure why you're trying to color it like that.

The problem is that the error integrates over time, which IMHO is why graphs like that seem to suggest our standard of living is higher than ever... when a conversation with anyone at a local bus stop will tell you the exact opposite.

astrangeOP6mo ago

It's almost impossible for the standard of living to not be higher than ever. That becomes true if you assign any value at all to new medical discoveries. Like, people have been cured of type 1 diabetes in the last year.

I don't think a guy at a bus stop represents the median household well. I'd rather have https://www.census.gov/programs-surveys/cps.html.