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Originally Posted by stekim
That's just your way, dear!
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Just remember, the tragedy of Cassandra wasn't that she was wrong, it was that no one believed her!!
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Not sure what you mean! We know what things cost. We know what they cost last week and last year. So I'm not sure how the numbers are wrong.
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I have been reading Kevin Phillips on the topic. It seems that Nixon was the Pres. who came up with the concept of "core" inflation which successfully excludes all of the things that are really inflating. Reagan further finagled the numbers by deciding that the C.P.I. was overstating housing prices. In 1983 they sidestepped the problem by using an "owner equivalent rent" measurement. Economist John Williams calls the many ways that government uses to understate the truth, "Pollyanna Creep".