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The true CPI experienced by many households is higher than the official figures, which by the way have been continually revised lower over time as the weighting methodology has changed.
So today we look at upcoming changes in the US CPI methodology, which is likely to put downward pressure on the CPI read, despite households on average now significantly worse off. A Numberwang if ever I saw one!
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Hi Martin, can you explain why the stock market is trading a highs when the past couple of months it’s been all about doom and gloom…. I put my super into cash only 3 weeks ago as I’m 60 years old this year and kinda panicked we were heading into a down turn 😢
They are playing musical numbers as the Titanic sinks.
Here in Australia, there is absolutely no chance that the Q4 2022 CPI figure should come in anything less than 8.5%. Based on the strength of November's CPI, the massive retail expenditure in December and energy cost spikes finally being priced in, there is no possible way that December's CPI on its own isn't at least 11%. If we get a Q4 CPI under 8.5% you'll know that there's been manipulation of the figures.
Literally just got a text from my sister. She said she has just been to the supermarket to buy her weekly groceries, she said prices nearly across the board have risen around 5-10% in just the last week.
CPI is a scam. They have changed the way it is calculated twice in the US since the 80's to reduce the real number.
John Williams of ShadowStats provides the real number and US inflation is well above 15%
How can you measure inflation without a unit? The dollar fluctuates and is not a fixed unit. Trying to measure with a rubber ruler.
Stop numberwanging… OR, YOU'll GO BLIND!😎
“There are three kinds of lies: lies, damned lies, and statistics.” Mark Twain
3:15 That graph is so depressing. Not at all surprising of course, but so incredibly depressing to see.
In other words just discount the the things the government has imposed to rise quarterly but not include it. Beer, alcohol, cigarettes, fuel, taxes local, state and federal. All the while real wages are in the toilet for workers.
X2 + 20% is the simplest method to use .
Inflation at 15% a year over five years is a doubling of costs! This is out of control. I don’t see how this will end without great pain
Operation numberwang is this guy's fortune telling.
it's interesting (but not often talked about) to consider the feedback loop between housing costs and interest rates. rents and mortgage repayments have clearly risen due to higher interest rates, and if they were heavily weighted in the CPI this would lead to…..more interest rate hikes. I wonder how much of a reverse role this played in keeping rates lower for longer? They should be heavily weighted but curiously the ABS decided to deweight them recently, or at least diversify the rent costs going into them. Hmmmm.
most people did not care as this country is lazy Town as I did save for decades for a rainy day but why would you when the government hands out cash,Poor eating habits and general lazyness so I hope most lose all those kilo's this year as no money for take away now
The Seven Deadly Sin's now the Sinner's pay the price. Walk Away from God and Lose All.
Their scam is catching up with them,leading commentators/analysts are forecasting serious long term stagflation etc now,regardless of any delusionary pivot or not.
If you have a Government Job you wil be fine .and my calculations there are over 2 million full time public servants in Australia, all well paid.
lifes biggest scam…INFLATION!
MAY ALL THE WANGERS GO BLIND !
CPI is the Consumer Price Index… Yet the US used "spending" in it formulae which is just rubbish as high costs items are bought the least and thus skew the real CPI.
I’m pretty sure many Aussies who watch this show didn’t know where Numberwang came from so good idea to let them know 😂
The political class and their unelected official counterparts are the biggest winner out of 15% real inflation since it is a form of taxation, puts their unconstitutional 10% GST to shame.
Governments love inflation. They can reduce your spending power in one of two ways: (1) take money from you directly by taxation, which is in your face and everybody can see it, or (2) inflate prices. Either way, the end result is the same. Politically option (2) is the preferred method because it is harder for people to realise what is happening.