My entire professional life, anyone who challenges official inflation statistics is condemned by experts as a crank. Now Dr. Summers, an unquestioned pillar of the field of economics, does it. Official inflation stats the latest institutional authority to crumble into dust?
Saylor proposed US inflation is averaged 7% for last 100 years. Twitter.com/@truflation is mentioned in the replies, also shadowstats
This is key to why Gary says inequality is so harmful, because wage earners buying power is reducing much faster than we are told it is, and so "when our predictions are wrong, our prices are wrong."
https://x.com/pmarca/status/1769211356962762832
Saylor proposed US inflation is averaged 7% for last 100 years. Twitter.com/@truflation is mentioned in the replies, also shadowstats
This is key to why Gary says inequality is so harmful, because wage earners buying power is reducing much faster than we are told it is, and so "when our predictions are wrong, our prices are wrong."