So Larry admitted the terrible truth...
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WilliamM
May 30, 2024, 6:30:45 PMMay 30
to Understanding Money
Did you see? Larry Summers tweeted out recently that inflation under the old methodology would have been 18 percent for 2023. Biggest reason is CPI used to have a home ownership assumption and used home prices but now uses home owners equivalent rent.
I guess we shouldn't be surprised to see such duplicity. After all, how else could politicians simultaneously claim to be delivering home asset value appreciation while keeping the cost of living steady?
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