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But the movies are 25% better so prices actually dropped. https://twitter.com/zerohedge/status/1085182359866146816
This is how economists actually think, and why CPI is way below the actual "cost of living."
For kicks, print this out and take it with you next time you go men's shirt shopping. https://web.archive.org/web/20100531202521/https://www.bls.gov/cpi/cpihqaqanda.htm
For kicks, print this out and take it with you next time you go men's shirt shopping. https://web.archive.org/web/20100531202521/https://www.bls.gov/cpi/cpihqaqanda.htm
This is a fun chart - New Car prices have supposedly gone nowhere since 1997 or so. Now, I know, the cars are safer, better etc,, but it really doesn't matter if they can do brain surgery if you can't afford them. https://fred.stlouisfed.org/series/CUUR0000SETA01
OK, I'm gonna explain some passages from a Bloomberg article on "inflation" today for non-eggheads. If you have an econ PhD or are an econ student, first of all, I am sorry, and secondly, you can skip this part. https://www.bloomberg.com/news/articles/2019-02-26/powell-gets-sharp-warning-from-senator-over-fed-inflation-target
"But what do we care? We all have pensions and COLA raises and shit. Plus, I’m worth well over $100 million," [LAUGHTER]
!["But what do we care? We all have pensions and COLA raises and shit. Plus, I’m worth well over $100 million," [LAUGHTER]](https://pbs.twimg.com/media/D0W_H-_VsAA2ekI.jpg "\"But what do we care? We all have pensions and COLA raises and shit. Plus, I’m worth well over $100 million,\" [LAUGHTER]")
The Carlyle Group guy said he’d do some stuff, and said that the Fed “owed it to the public to try to think our way through the best possible way to continue to socialize losses and privatize profits.”
"A 10% decline in the cost of a new TV is $25, while a 10% increase in annual tuition and college fees is $2,500." https://www.zerohedge.com/news/2019-03-11/source-killer-inflation-services
So the BLS CPI weighting for "Televisions" (which they hedonically-adjust the hell out of, downwards) is 3x (three-times) higher than the BLS weighting for "Technical and business school tuition and fees". #CPIU
https://www.bls.gov/cpi/tables/relative-importance/2018.pdf
https://www.bls.gov/cpi/tables/relative-importance/2018.pdf
