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Our inflation numbers and unemployment numbers are lower only because our government has "creative" ways of measuring them.Yep, people in the US complain but at least we don't have double-digit inflation like Europe does. I read the European media and I was amazed when they crowed that inflation was "down" to 10% in the EU.
Our inflation numbers and unemployment numbers are lower only because our government has "creative" ways of measuring them.
I assume that is a sardonic comment, Jim. I did not say anything about "conspiracy." I don't know the formula they use for measuring "inflation." In any case, it is only a number. What is really important to people is the money they have to spend. In my simplistic way of looking at it, I consider the price of essentials such as gas, food, clothing, utilities and shelter, and not the items bought with disposable income. I do most of the shopping for food in our family and I know that the prices of many foods are up 40% or more. Gasoline is up over 50%, interest rates and rent have spiked, etc. These do not portend an inflation rate of 8-9%.Yeah, it's all a giant conspiracy.
https://www.bls.gov/cpi/questions-and-answers.htmI assume that is a sardonic comment, Jim. I did not say anything about "conspiracy." I don't know the formula they use for measuring "inflation." In any case, it is only a number. What is really important to people is the money they have to spend. In my simplistic way of looking at it, I consider the price of essentials such as gas, food, clothing, utilities and shelter, and not the items bought with disposable income. I do most of the shopping for food in our family and I know that the prices of many foods are up 40% or more. Gasoline is up over 50%, interest rates and rent have spiked, etc. These do not portend an inflation rate of 8-9%.
Regarding unemployment, not counting people as unemployed who are not actively looking for a job is very convenient. By that "logic", if everyone stopped looking for work, our unemployment rate would be 0%. People who are getting government assistance that exceeds what they could earn on the job, without doing anything are unlikely to take jobs that pay the same amount or even a little more.
I assume that is a sardonic comment, Jim. I did not say anything about "conspiracy." I don't know the formula they use for measuring "inflation." In any case, it is only a number. What is really important to people is the money they have to spend. In my simplistic way of looking at it, I consider the price of essentials such as gas, food, clothing, utilities and shelter, and not the items bought with disposable income. I do most of the shopping for food in our family and I know that the prices of many foods are up 40% or more. Gasoline is up over 50%, interest rates and rent have spiked, etc. These do not portend an inflation rate of 8-9%.
Regarding unemployment, not counting people as unemployed who are not actively looking for a job is very convenient. By that "logic", if everyone stopped looking for work, our unemployment rate would be 0%. People who are getting government assistance that exceeds what they could earn on the job, without doing anything are unlikely to take jobs that pay the same amount or even a little more.
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