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I drink your milkshake! a metaphor for capitalism
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<blockquote data-quote="wkmac" data-source="post: 2947908" data-attributes="member: 2189"><p>Some argue that the current CPI measure of inflation underestimates the true rate of inflation not unlike some who argue the true measure of unemployment underestimates that area of the economy. Further argued that such indices are underestimated for the purpose of making govt policy look better than it actually is. I'll leave you to decide such matters.</p><p></p><p>On that note, <a href="http://www.shadowstats.com/alternate_data/inflation-charts" target="_blank"><span style="color: #ff0000"><strong>ShadowStats </strong></span></a>tracks inflation from <a href="http://www.shadowstats.com/imgs/sgs-cpi.gif?hl=ad&t=1497462527" target="_blank"><span style="color: #ff0000"><strong>1980' to present showing</strong></span></a> the current official CPI model and the alternative model which shows inflation at nearly double the official rate. Should the alternate model ever prove a more accurate measure of inflation, as it actually once was, then it might be that current wage levels across the economy are way under the actual true inflation rate. </p><p></p><p>If wages were indeed keeping up with the actual rate of inflation in the economy, seems to me especially that the middle class would not be shrinking as it currently is but at the least maintaining its recent decades historical levels and the number of people that are said to be entering the ranks of what is called the working poor or even down to the poverty level seems to me would at least stay steady instead of growing. </p><p></p><p>At the same time, if actual inflation is that much higher along with wages that much lower, seems to me this extra money would show itself as greater and greater profits having the effect of accumulating among a certain class or segment of the economy creating a wealth imbalance. Say a segment in the position to dominate public policy for its own ends? Would such a segment find it useful to create an official measure that undercuts wages for the purpose to drive up profits compounded with favorable tax and regulatory policy they write which benefits them? Of course, no such thing could ever happen where people have free elections and full transparency from a media who acts on behalf of the public as the official watchdog.</p><p></p><p>A fascinating thought exercise to say the least.</p></blockquote><p></p>
[QUOTE="wkmac, post: 2947908, member: 2189"] Some argue that the current CPI measure of inflation underestimates the true rate of inflation not unlike some who argue the true measure of unemployment underestimates that area of the economy. Further argued that such indices are underestimated for the purpose of making govt policy look better than it actually is. I'll leave you to decide such matters. On that note, [URL='http://www.shadowstats.com/alternate_data/inflation-charts'][COLOR=#ff0000][B]ShadowStats [/B][/COLOR][/URL]tracks inflation from [URL='http://www.shadowstats.com/imgs/sgs-cpi.gif?hl=ad&t=1497462527'][COLOR=#ff0000][B]1980' to present showing[/B][/COLOR][/URL] the current official CPI model and the alternative model which shows inflation at nearly double the official rate. Should the alternate model ever prove a more accurate measure of inflation, as it actually once was, then it might be that current wage levels across the economy are way under the actual true inflation rate. If wages were indeed keeping up with the actual rate of inflation in the economy, seems to me especially that the middle class would not be shrinking as it currently is but at the least maintaining its recent decades historical levels and the number of people that are said to be entering the ranks of what is called the working poor or even down to the poverty level seems to me would at least stay steady instead of growing. At the same time, if actual inflation is that much higher along with wages that much lower, seems to me this extra money would show itself as greater and greater profits having the effect of accumulating among a certain class or segment of the economy creating a wealth imbalance. Say a segment in the position to dominate public policy for its own ends? Would such a segment find it useful to create an official measure that undercuts wages for the purpose to drive up profits compounded with favorable tax and regulatory policy they write which benefits them? Of course, no such thing could ever happen where people have free elections and full transparency from a media who acts on behalf of the public as the official watchdog. A fascinating thought exercise to say the least. [/QUOTE]
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