The Magic Of CPI: Watch How Economists Transform A 400% Price Increase Into A 7.1% Declinehttp://www.zerohedge.com/news/2014-11-06/magic-cpi-watch-how-economists-transform-400-price-increase-71-decline …
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Replying to @zerohedge
This is a must read. The CPI number is a farce. People face inflation every day while central bankers cry -"Deflation!
@zerohedge1 reply 1 retweet 4 likes -
Replying to @ScrewedbyState
From the comments- Turning 17.6% rise in price of cars to 6% via adjustments for "improved quality"
@zerohedgepic.twitter.com/9WSm4hEoKv
4 replies 6 retweets 2 likes -
Replying to @AntiMarxists
There's no way to express QUALITATIVE improvements as numbers. So called hedonic adjustments to CPI are simply winging it. @righteconomist
1 reply 2 retweets 1 like
Replying to @ScrewedbyState
@ScrewedbyState @righteconomist Indeed. Its a mug's game. Quantify how much better the iPhone 6 is to the 4.
1:24 PM - 6 Nov 2014
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