Re: Fraud in the CPI

On Sun, 2 Dec 2007 21:01:02 -0600, "John Galt"
<whoisjohngalt@xxxxxxxxxxxxxx> wrote:


"Rumpelstiltskin" <PleaseDoNotReplyByEmail@xxxxxxxxxxx> wrote in message
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On Sun, 2 Dec 2007 08:09:13 -0600, "John Galt"
<whoisjohngalt@xxxxxxxxxxxxxx> wrote:


"Rumpelstiltskin" <PleaseDoNotReplyByEmail@xxxxxxxxxxx> wrote in message
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On Sun, 2 Dec 2007 07:07:56 -0600, "John Galt"
<whoisjohngalt@xxxxxxxxxxxxxx> wrote:

<snip>


A rigid, no-subs policy obviously results in a higher CPI, which is
obviously good for SS receipients. However, it doesn't accurately model
the
inflation in the economy.


If it "obviously" results in higher CPI, doesn't that
mean that the current situation is "obviously"
understated? Unbiased substitutions shouldn't
all trend the same way if they're really unbiased.

No. The objective is to accurately model inflation in the economy. This is
not a simple task, economists disagree on how best to do this, and
further,
opinions on the matter evolve as the art of economics becomes more
advanced,
economists advance new and better ideas as to how to do it, etc.



If "the economy" doesn't mean the welfare of people,
it doesn't really mean anything of much note, IMV.

The economy is the function of a country's business environment. "Welfare of
the people" is related in that people depend on that economy for their
livlihoods.



Cart before the horse, IMV. It's the business environment
that's a prime consideration only insofar as it improves the
commonwealth. Without that, it's good for nothing more
than the wealth of the French aristocracy was good for the
peasantry.




S
things are claimed to be complicated even in their
everyday ramifications only because some persuasions
want to fog up reality, IMV. Of course, I am a "liberal".

"Reality" is subjective.



The commonwealth is not subjective in the large,
it's pretty plain to people if they're significantly better
off some times than others, though one could carp
around the edges.




I do buy frozen ground beef, but right now "steak"
is on my shopping list for the next trip to Costco but
hamburger isn't, even though I still have some of
both in my freezer.

Maybe we should have a pet-food index, counting
the number of people who are living on pet food
because it's cheaper, today versus ten years ago.
(I've never known anybody who does live on pet
food, but I'm assured by urban-legendists that there
are some.)

Well, I'm sure their legends are .... urban.


Maybe so. I sure do hear a lot about people eating
pet food, but it might be like the welfare queens
driving Cadillacs, at least new ones rather than
wrecks - far more common in legend than in reality.

I'd think. The US has the richest poor people in the world, pretty much.
After all, the biggest dietary problems amongst the US poor are .....
obesity and its attendant diabetes.


I don't think that's true. Europe, Australia, Canada all
look to the welfare of their people. For the USA that's an
annoying side-issue inadequately dealt with. My Aussie
roommate was mostly out of work for two years when he
went back (he was only 19 or 20 when he went back). I
asked him about health care and he said "Oh, you don't
have to worry about that in Australia." He never sounded
as though he was in desperate straits during that time. In
America, anybody out of work that long without a stash of
money is going to be worried about being out on the
streets without food except for soup-kitchens, and god
help them if they get sick.

I don't remember ever seeing a person who looked like
he lived on the streets in Sydney, though I guess there
must be some. That made the street people even more
noticeable than before when I returned to the USA.

Third world nations have poorer poor people than
all the above, and the USA too, granted, but the USA
isn't supposed to be a third-world country, at least not
yet.


.

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