this post was submitted on 19 Mar 2024
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chapotraphouse

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[–] iridaniotter@hexbear.net 29 points 1 year ago* (last edited 1 year ago) (1 children)

Pre-1983, mortgage costs were in the CPI as were car payments pre-1998. Now, price indexes do not include borrowing costs. Thus, when interest rates jumped last year, official inflation did not fully capture the effects it would have on consumer well-being

-Lawrence Summers

Bourgeois science moment

[–] SuperZutsuki@hexbear.net 12 points 1 year ago* (last edited 1 year ago) (1 children)

What if instead of consumer price index it was consumer piss index and it measured the level of piss consumed from trickle down economics?

[–] Sickos@hexbear.net 8 points 1 year ago

Please don't slander piss like that.

[–] AcidMarxist@hexbear.net 23 points 1 year ago

Because rent is 50% of my income. Next question please mao-wtf

[–] InevitableSwing@hexbear.net 16 points 1 year ago

It would have been perfect if this article had been right next to Krugman's on the homepage...

[–] Frank@hexbear.net 10 points 1 year ago

I'm in the part of Debt where Graeber holds Smith down and gives him a swirly while explaining that "The Economy" is bullshit and Smith made it up bc he wanted to be a smart science guy like Newton and Hooke.

[–] PKMKII@hexbear.net 7 points 1 year ago

“Relatively” is doing some heavy duty lifting there

[–] Cherufe@hexbear.net 5 points 1 year ago (1 children)

Honestly it looks like a valid question, I honestly though that more people would be in a position of "if Im in a good situation the economy must be doing fine". Also 61% saying they are doing good seems quite high.

Yeah "the economy" might mean a different thing depending on who you ask so I dont think you can reach a broad conclusion, but I still find it interesting.

[–] Tabitha@hexbear.net 8 points 1 year ago

"if Im in a good situation the economy must be doing fine"

As part of the wider phenomenon of "problems don't exist if they don't affect me personally."