From the Burning Platform: We all know the BLS artificially suppresses the CPI through bullshit substitution adjustments, quality adjustments, and various other incomprehensible hedonic adjustments made by government apparatchiks at the behest of their politician bosses. Some obscure theoretical academic calculation called owners equivalent rent accounts for almost a quarter of the CPI weighting.
Monetary inflation may seem impossibly complicated, but take heart. While understanding inflation is essential to everyone, both in sensing the future and to understanding the basics of personal well-being, a degree in economics is unnecessary. Money is basically a “medium of exchange”; an instrument of convenience, which makes it unnecessary to tote chickens or bushels […]