Monday, May 24, 2021
The CPI Fails To Reflect True Inflation https://youtu.be/30jY8NkgBBQ
The CPI Fails To Reflect True Inflation https://youtu.be/30jY8NkgBBQ
The cost of living numbers prepared by the Bureau of Labor Statistics are highly misleading. Currently, the government understates inflation by using a formula based on the concept of a “constant level of satisfaction” that evolved during the first half of the 20th century in academia. This extended into the BLS re-weightings sales outlets such as discount or mass merchandisers with Main Street shops. Those promoting this change claimed it was simply another way to measure inflation and it still reflected the true cost of living.
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