14/ Yes, F-350s are absolutely work trucks (or, at least, can be. Out here in farm country, though, I see about 10x as many of them being driven to the liquor store with nothing in the bed, as I see hauling cargo) But the thread started with a claim >https://twitter.com/ndwpdx/status/1317206291333275648 …
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25/ This is the source I used. https://www.infoplease.com/business/economy/median-annual-income-level-education-1990-2010 … Note that I did not claim "entry level". I specified only by educational attainment. If you want to use other data, specify it. With a link.https://twitter.com/trapc45/status/1317216141899669504 …
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26/ No it doesn't. One can compute one's own inflation numbers by looking at prices of things one knows / cares about. It PERHAPS implies that I trust people who live and die by inflation rates to VERIFY government numbers. >>>https://twitter.com/Bobthewelding1/status/1317225508841705477 …
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27/ I see lots of arguments about "stealth inflation", and I'm entirely happy to entertain the idea. So ... go ahead. Convince me. Pick a basket of goods X and price it at time Y and at time Z.
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28/ I fully agree with the data in this tweet. This is orthogonal to the discussion of whether the government inflation numbers are valid.https://twitter.com/Bobthewelding1/status/1317231388517715969 …
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29/ Yes / yes / no What do I get out of them?
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I like fighting.
https://twitter.com/jtcbrule/status/1317235507437457409?s=19 …Show this thread -
31/ But in this thread we've shown that the price of a 350 has remained the same in real terms, and the quality has gone up. Look at Bob's data in #28 - low and mid class wages are flat WHEN ADJUSTED FOR INFLATION, meaning that inflation hasn't hurt themhttps://twitter.com/braxton_mccoy/status/1317241908696018945?s=19 …
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End of conversation
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We must RETVRN to La Belle Epoque
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National productivity & value increases (usually). Money is a means of normalizing trade of value: rather than pricing bread vs apps, we price bread vs $ and apps vs $. Total $ approximates total national value; 1
loaf ~= $1, 1
app ~= $1.
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As national value increases, that balance decreases value of things per $. Increasing $ supply ideally keeps that balance steady, so 1
loaf ~= $1, etc.
Inflation encourages trade by (ideally) slowly reducing the value of $1 so people would rather buy stuff than hoard cash.
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