RuleNumberOne Posted January 8, 2020 Share Posted January 8, 2020 Inflation rages on in Silicon Valley causing people to flee. Inflation by metro area data shows California inflation in the 3-4.5% range over the last year. How does the crooked BLS manage to massage this into 1.5% inflation? https://www.bloomberg.com/graphics/2019-us-gdp-concentration-counties/ https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-metro-area.htm Link to comment Share on other sites More sharing options...
rkbabang Posted January 8, 2020 Share Posted January 8, 2020 Inflation rages on in Silicon Valley causing people to flee. Inflation by metro area data shows California inflation in the 3-4.5% range over the last year. How does the crooked BLS manage to massage this into 1.5% inflation? https://www.bloomberg.com/graphics/2019-us-gdp-concentration-counties/ https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-metro-area.htm And yet: https://www.justfacts.com/news_poorest_americans_richer_than_europe Link to comment Share on other sites More sharing options...
Gregmal Posted January 8, 2020 Share Posted January 8, 2020 Someone told me a joke a while ago that I found simple but hilarious... Poor people in America live in NYC and SF.... Link to comment Share on other sites More sharing options...
Spekulatius Posted January 8, 2020 Share Posted January 8, 2020 The US is a lot Europe in terms of economic diversity - in Europe you have Munich and Luxembourg on one side and Greece and Southern Italy on the other. In the US you have the Rich areas like the Bay Area and NYC and poor areas like Kentucky and Mississippi etc. You just have more cultural glue to hold the US together compared with Europe. Link to comment Share on other sites More sharing options...
rogermunibond Posted January 8, 2020 Share Posted January 8, 2020 31 counties 1/3 of GDP is kind of a meaningless stat. There's lots of GDP tied in the wholesale value chain. For example, Boeing 737 sale gets booked in King County. But the bill of materials includes parts and services scattered all over the US. Link to comment Share on other sites More sharing options...
rkbabang Posted January 9, 2020 Share Posted January 9, 2020 31 counties 1/3 of GDP is kind of a meaningless stat. There's lots of GDP tied in the wholesale value chain. For example, Boeing 737 sale gets booked in King County. But the bill of materials includes parts and services scattered all over the US. It is meaningless also because of population density. LA county has more people in it than the least populated 9 states do. Link to comment Share on other sites More sharing options...
RuleNumberOne Posted January 9, 2020 Author Share Posted January 9, 2020 My point is inflation calculations should use GDP as a weight. I think they take a simple average of all the regions instead of a weighted average. Oil change prices where I live went up 20% in 6 months. It takes at least two weeks to get a car service appointment. How does the government manage to not find inflation. Central bankers are creating a larger and larger pile of debt while pretending to want to see inflation (inflation which would set the debt pile on fire.) 31 counties 1/3 of GDP is kind of a meaningless stat. There's lots of GDP tied in the wholesale value chain. For example, Boeing 737 sale gets booked in King County. But the bill of materials includes parts and services scattered all over the US. It is meaningless also because of population density. LA county has more people in it than the least populated 9 states do. Link to comment Share on other sites More sharing options...
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