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Skjellifetti
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Nov 07 17:20 pm
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All Comments by Skjellifetti »Wall Street: Dumb as It Ever Was [View article]
The old formulas were based on linear approximations of non-linear phenomena. We simply don't consume the same basket of goods over time and measures of inflation, etc. have to reflect that.
On Nov 06 02:40 PM JeffDB wrote:
> So how exactly does Shadow Stats get things wrong? From their page explaining some of the issues they have with the official government figures, they don't mention sampling errors, or math errors etc. Their contention is that the government, over a number of different administrations has deliberately revamped the formulas themselves to make the numbers look better. Do you dispute this? If so, on what basis? Do you have any hard evidence to back up your contention?