“In the late 70s, rising house prices helped pump up CPI, pressurising Federal budgets. Hence, in 1983 the BLS switched to using Owner Equivalent Rent, which handily produced a lower and less volatile measure of CPI. Can you imagine where CPI would be now if we switched back?” OER has to be one of the most bs measurements ever created
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Not sure why the rest of the post isn’t showing up but here’s a podcast on this https://youtu.be/15beIVhFqX4
Oooo god I love Andreas. Yeah I’ll listen later. CPI is fraud but I’m not an “economist” :)