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Published Consumer Price Measures are Meaningless
More voodoo economics along with trickle down theories for the working class and Social security recipients. Yep we need more welfare and open borders to make the situation better for all Americans including all of Central America!
serf
According to the Federal Reserve Survey of Consumer Finances, in
the last 20 years, the median value of the net worth of the top 10% has
more than doubled, while the gains for other income cohorts have barely
increased. The uneven outcomes reflect the disproportionate
ownership of equities. The top 10% hold 90% of all equity investments.
Median income gains were equally skewed. The top 10% recorded outsized
gains, helped by large capital gain income.
Research at the New York Federal Reserve Bank found that if house prices
were part of the CPI in the 2000s economic expansion it would have had
an “enormous difference “ on reported inflation. According to the New
York Fed research staff, replacing house prices for owner rents, the CPI
would have averaged 4% per year, and core inflation around 3.75% in the
2000s growth cycle, both roughly one and one-half percentage points
above reported inflation.
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