[ExI] Inflation graph
spike66 at att.net
Thu Oct 31 20:11:24 UTC 2013
From: extropy-chat-bounces at lists.extropy.org
[mailto:extropy-chat-bounces at lists.extropy.org] On Behalf Of Kelly Anderson
That being said, it isn't a great comeback when complaining about the
government inflation number. The government has all kinds of good reasons to
lie about this.
"Measuring inflation is a difficult problem for government statisticians."
The fault is in the terminology. Inflation isn't something that is measured
in this case, but rather it is a report of the factor by which a particular
government intends to adjust its pensioners for constant standard of living.
The US government flatly refuses to let that number go negative, even if
there are indications it would be perfectly appropriate to do it, if you
assume food, fuel and labor out of the equation. As automation accumulates,
the price of manufactured goods does decline. It doesn't wreck an economy
if prices decline.
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