• CubitOom@infosec.pub
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    17 hours ago

    Its a good thing the fed doesn’t include the price of gas in it’s decisions, or they might have to change strategy.

    • WhatAmLemmy@lemmy.world
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      6 hours ago

      I have a background in analytics, and I know what is claimed about the independence and impartiality of these stats, but I don’t believe inflation figures at all anymore. The elite at the tippy top of capitalism are all criminally corrupt, and have enormous financial incentive to game everything.

      It only takes a cursory glance at the cost of everything to see that the real inflation of most products is significantly greater than stated. Sure raw ingredients and staples that still have competition (milk, flour, bread, salt, sugar, potatoes, detergent etc) may have only risen at official figures, but what proportion of consumer spending are those compared to all other items?

      If inflation were 7% per annum EVERY YEAR since 2019 — double most official inflation figures over that time — prices would only be 50% higher today (1.07^6 = 1.5x more expensive), yet when you look at cereal that isn’t oatmeal, vegetables that aren’t potatoes and carrots, biscuits that aren’t the most basic of basic shit (etc, etc) – the cost of pretty much every branded product that isn’t electronics – is literally anywhere 2-5x what it was in 2020. The rent and utilities of everyone I know has basically doubled in that time. This puts real inflation at more like 10-20%.

      10% x 6 years = ~1.8x more expensive (1.10^6)

      15% x 6 years = ~2.3x more expensive (1.15^6)

      20% x 6 years = ~3x more expensive (1.20^6)

      The psychopathic, fascist, parasite class are robbing us all blind, and it will only get worse as they ramp up the class warfare and destroy all gains made since western democracy began. We’re already back to the inequality that led to WW2.