As the NYT editorial notes “…Unlike the gauge of inflation currently in use, the chained index captures the ability of consumers to adjust their spending across categories as relative prices change — for instance, spending less on fuel as gas prices go up and more on groceries as food prices go down…”
If the proponents (read Obama) of the chained index think that food prices are going to go down while gas prices go up, they are either mistaken or lying
I suspect lying.
Basically, we “eat” oil. Big Ag relies on fossil fuels to move product thousands of miles, and in particular to create ammonia fertilizer from natural gas.
We are on the verge of exhausting several key aquifers. More extreme weather is going to sharply cut into former “breadbasket” production areas.
To say that ‘oh well, seniors may drive less, but at least they can buy more food’ is totally incorrect and heartless.
Kind of like Obama.
Yeah, all these seniors do is go on long joyrides every day, since they have nothing better to do.
Why is the NYT writing this kind of nonsensical crap?
All these indexes have come to represent a lie. Formulas are ‘tweaked,’ key variables are ignored for the simple purpose of hiding reality. Unemployment numbers don’t reflect the actual number of unemployed. CPI assumes a behavior, it doesn’t reflect erosion of quality of life. Sure Grandma can switch to cat food when spam becomes too expensive, but is that a valid choice to force someone to make. Corporate Controlled America: kill or be killed.
As the NYT editorial notes “…Unlike the gauge of inflation currently in use, the chained index captures the ability of consumers to adjust their spending across categories as relative prices change — for instance, spending less on fuel as gas prices go up and more on groceries as food prices go down…”
If the proponents (read Obama) of the chained index think that food prices are going to go down while gas prices go up, they are either mistaken or lying
I suspect lying.
Basically, we “eat” oil. Big Ag relies on fossil fuels to move product thousands of miles, and in particular to create ammonia fertilizer from natural gas.
We are on the verge of exhausting several key aquifers. More extreme weather is going to sharply cut into former “breadbasket” production areas.
To say that ‘oh well, seniors may drive less, but at least they can buy more food’ is totally incorrect and heartless.
Kind of like Obama.
Yeah, all these seniors do is go on long joyrides every day, since they have nothing better to do.
Why is the NYT writing this kind of nonsensical crap?
All these indexes have come to represent a lie. Formulas are ‘tweaked,’ key variables are ignored for the simple purpose of hiding reality. Unemployment numbers don’t reflect the actual number of unemployed. CPI assumes a behavior, it doesn’t reflect erosion of quality of life. Sure Grandma can switch to cat food when spam becomes too expensive, but is that a valid choice to force someone to make. Corporate Controlled America: kill or be killed.