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Textbooks should be free. We all can help.
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exactly, things are going great! ;-)
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Inflation is an increase in the *price level*. Those are relative price changes. It’s an important distinction! https://www.clevelandfed.org/en/newsroom-and-events/publications/economic-commentary/economic-commentary-archives/2008-economic-commentaries/ec-20080601-rising-relative-prices-or-inflation-why-knowing-the-difference-matters.aspx …pic.twitter.com/8SMl7FM1sq
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So basically really expensive things got a lot more expensive, and cheap things got a little cheaper....
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a fiendish plot!
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exactly this, plus they say "well actually the price of a TV has gone up too but the TV itself has gotten 3x better so it's baaasically like the price is now 1/3rd right!?" https://www.bls.gov/cpi/quality-adjustment/questions-and-answers.htm …
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PLUS the housing cost calculation doesn't make sensehttps://twitter.com/BillAckman/status/1469438747292880898?s=20 …
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