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Inflation is higher than they would like you to believe. (monero.town)

submitted 5 months ago by shortwavesurfer@monero.town to c/personalfinance@lemmy.ml

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The US government is telling everybody that inflation is 3.4% per year. That is not correct. Try 14.2% and that's about right. Source : gold/usd 1 year simple moving average.

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[–] deegeese@sopuli.xyz 4 points 5 months ago (1 children)

I’ll accept without evidence that real inflation feels a lot higher than 3.4%, but proposing short term shifts in the price of gold, or any other single commodity as a better metric is just nuts.

[–] shortwavesurfer@monero.town -5 points 5 months ago* (last edited 5 months ago) (2 children)

Well, shadow stats agrees with me. According to the way they measured inflation in the 1980s, we are about 12%. So even if my estimate was wrong, it's not off by far.

And the way they measured back then included things such as, oh, I don't know, food and energy, which are two things everybody just happens to need.

[–] toasteecup@lemmy.world 5 points 5 months ago

shadow stats

Bruh.

[–] deegeese@sopuli.xyz 2 points 5 months ago

Yes, measure the things people need, not gold.