Comment on Inflation Outpaces Wage Growth For Over 40% Of Americans
echutaaa@sh.itjust.works 1 week agoThe feds measure of inflation is deeply flawed because of the politicized basket of goods it uses, that’s why it’s seems so low.
Comment on Inflation Outpaces Wage Growth For Over 40% Of Americans
echutaaa@sh.itjust.works 1 week agoThe feds measure of inflation is deeply flawed because of the politicized basket of goods it uses, that’s why it’s seems so low.
misteloct@lemmy.dbzer0.com 1 week ago
…wikipedia.org/…/United_States_Chained_Consumer_P…
Exactly. Most times the US government mentions inflation they’re talking about “Chained” inflation, which lags behind actual inflation for most by 1%.
Aceticon@lemmy.dbzer0.com 1 week ago
In the GDP calculations, the Official Inflation will “deflate” the GDP number calculated in today’s money (the Nominal GDP) to produce the Official GDP number (the Real GDP), so if the Official Inflation is lower than reality, the difference in inflation pretty much “leaks” into a higher GDP number than it should be, or in other words, officially it looks like GDP growth.
You might have noticed just how much politicians celebrate that they’ve “made the Economy grow”.
Massaging the Inflation is an easy way to create GDP “Growth” in the official figures and is far more indirect and obscure than massaging the GDP figures themselves so less likely for those doing it to be caught and even if they do only a handful of people actually understand the true significance of what has been done.