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Fortunes Tinfoil CPI
Old 04-03-2008, 08:22 PM   #1
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Fortunes Tinfoil CPI

Boskin also says that whatever you're paying in price increases is offset by the additional pleasure you get from better goods. To put it another way, you adjust for improvement in quality over time - a practice called hedonic pricing. So, for example, energy price increases due to federally mandated environmental measures are offset by how much we all sit around enjoying the cleaner environment. (And there's a lot of sitting, because it's not like we can afford to go anywhere anymore.) But, as critics note, quality increases over time are also a reflection of the fact that increased production typically means lower prices, thanks to economies of scale. This may be a matter of splitting methodological hairs, but if it isn't, aggressive estimates put the non-Boskinized actual inflation rate north of 7%. (The We're All Gonna Die estimate is more like 10%, but let's not push it.)

7% sounds about right, about 91% agree with me

The Consumer Price Index may underestimate inflation. - Apr. 3, 2008
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Old 04-03-2008, 08:25 PM   #2
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7% inflation would mean that your cost of living has doubled since 1998. Mine hasn't. Has yours?
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Old 04-03-2008, 08:25 PM   #3
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Yes probably, but you are not correct, I am not saying 7% for 10 years, only 7% right now and for awhile now. That is not fair.
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Old 04-03-2008, 08:31 PM   #4
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Boskin also says that whatever you're paying in price increases is offset by the additional pleasure you get from better goods.
Give me some of whatever Boskin has been drinking.
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Old 04-03-2008, 08:31 PM   #5
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So what timeframe are we talking about? I've experienced over 100% inflation some days, and close to 100% deflation others.
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Old 04-03-2008, 08:32 PM   #6
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Boskin also says that whatever you're paying in price increases is offset by the additional pleasure you get from better goods. To put it another way, you adjust for improvement in quality over time - a practice called hedonic pricing. So, for example, energy price increases due to federally mandated environmental measures are offset by how much we all sit around enjoying the cleaner environment. (And there's a lot of sitting, because it's not like we can afford to go anywhere anymore.) But, as critics note, quality increases over time are also a reflection of the fact that increased production typically means lower prices, thanks to economies of scale. This may be a matter of splitting methodological hairs, but if it isn't, aggressive estimates put the non-Boskinized actual inflation rate north of 7%. (The We're All Gonna Die estimate is more like 10%, but let's not push it.)

7% sounds about right, about 91% agree with me

The Consumer Price Index may underestimate inflation. - Apr. 3, 2008
The govmint has been lying about the CPI for years. This is one more way they do it. Core CPI excludes fuel and food, yet it's the most quoted number. Why? Because fuel and food have gone up the most. I'm in the 91%. Additional pleasure from lower quality goods imported from China? I think not.
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Old 04-03-2008, 08:35 PM   #7
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"7% sounds about right, about 91% agree with me"

Well then. Thats settled. 91% agree with you. What more could you want? Im just a ignorant folk I dont keeps no track of my own spenses heh heeee
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Old 04-03-2008, 08:37 PM   #8
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91% sounds inflated to me. Are you sure that isn't hedonically adjusted?
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Old 04-03-2008, 08:54 PM   #9
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So what timeframe are we talking about? I've experienced over 100% inflation some days, and close to 100% deflation others.
I would say to just add about 3% to what has been reported yearly since around 1996. That would be fair enough for me and is my best Tinfoiled guess.
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Old 04-03-2008, 08:55 PM   #10
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I would say to just add about 3% to what has been reported yearly since around 1996. That would be fair enough for me and is my best Tinfoiled guess.
Guess? Not actual numbers you have kept track of? Tsk tsk..
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Old 04-03-2008, 08:58 PM   #11
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I would say to just add about 3% to what has been reported yearly since around 1996. That would be fair enough for me and is my best Tinfoiled guess.
Yikes, it turns out that you're right. At least for your lifestyle.



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Old 04-03-2008, 08:59 PM   #12
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I'll settle for a guess, it's close enough. This subject sure does get the blood flowing. Why can't we all just agree with the hedonically adjusted 91% of the population and admit we are getting hosed? It's obvious to the 91% of us with the reflective hats.
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Old 04-03-2008, 09:02 PM   #13
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I'll settle for a guess, it's close enough. This subject sure does get the blood flowing. Why can't we all just agree with the hedonically adjusted 91% of the population and admit we are getting hosed? It's obvious to the 91% of us with the reflective hats.
Oh well since you put it that way.


Baaahhh..

Im in..
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Old 04-03-2008, 09:05 PM   #14
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Yikes, it turns out that you're right. At least for your lifestyle.



It's really amazing that at the recent 1.50 high price on your chart, it was actually running at a 7% annual rate of increase. You proved my point, thanks!
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Old 04-03-2008, 09:10 PM   #15
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Yes, but note that I substituted aluminum for tin. Still, if you dress in shiny metals, I can see where you're coming from.

Oh, here's tin. 200% increase in 5 years! Have you considered straw hats instead?

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Old 04-03-2008, 09:10 PM   #16
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So what should we do about this Rockon? What is the course of action we shall take in this crusade?
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Old 04-03-2008, 09:13 PM   #17
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Yes, but note that I substituted aluminum for tin. Still, if you dress in shiny metals, I can see where you're coming from.

Oh, here's tin. 400% increase in 5 years! Have you considered straw hats instead?
You just keep making my point. Looks like the CPI believers are really the conspirators and should be looking for the new hats. Apologies anyone?
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Old 04-03-2008, 09:16 PM   #18
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So what should we do about this Rockon? What is the course of action we shall take in this crusade?
Join the bandwagon to pressure the government to start telling the truth. When we get the number to 99% they will listen.
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Old 04-03-2008, 09:18 PM   #19
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Join the bandwagon to pressure the government to start telling the truth. When we get the number to 99% they will listen.
Right on power to the people!


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Old 04-03-2008, 09:19 PM   #20
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I'm sorry. The truth is that I cannot afford a tinfoil hat. I have been using imported Chinese aluminum foil hats, and you're right -- the substitution just doesn't cut it.

Wear your tinfoil proudly. Or sell it to me. $5? And I like your shoes too.
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