5.4% vs. 13.5%

[Jolly]

We have inflation, but how much?

https://www.kitco.com/news/2021-07-19/ShadowStats-John-Williams-Why-inflation-now-is-really-13-5-and-will-get-higher.html

[Axtremus]

From the article:

In the 1980s, the government realized that they were overstating inflation and so revised their measurement methods.

Williams said this was done to lower their social security payments based on cost-of-living adjustments.

Inflation measurement methodologies have been revised from time to time over the years. Any reason to trust the BLS' pre-1980 methodology or the pre-1990 methodology more than the current methodology?

In any case, if you want to cite John Williams' numbers, you'd be better off linking to John Williams' own website http://www.shadowstats.com/alternate_data/inflation-charts rather than to Kitco, for the simple reason that Kitco is a 'gold bug' website that promotes gold and gold stocks, and as such has a tendency to overstate the threat of inflation.

[George K]

Inflation only affects the wealthy.

The White House Chief of Staff told me so:

[LuFins Dad]

@george-k said in 5.4% vs. 13.5%:

Inflation only affects the wealthy.

The White House Chief of Staff told me so:

Did he really say that? He had to have been hacked. I mean, the part about unemployment, too?

[George K]

@lufins-dad said in 5.4% vs. 13.5%:

Did he really say that?

Well, he agreed with the quotation.

[Jolly]

I hope the Biden Boys remember what happened to Carter...

[George K]

Oh...