Comments by "Joe Swanson" (@joeswanson733) on "Inflation has only one way to go, and that's up." video.

  1. Originally, the CPI was determined by comparing the price of a fixed basket of goods and services spanning two different periods. In this case, the CPI was a cost of goods index (COGI). However, over time, the U.S. Congress embraced the view that the CPI should reflect changes in the cost to maintain a constant standard of living.1 Consequently, the CPI has evolved into a cost of living index (COLI). Over the years, the methodology used to calculate the CPI has undergone numerous revisions. According to the BLS, the changes removed biases that caused the CPI to overstate the inflation rate. The new methodology takes into account changes in the quality of goods and substitution. Substitution, the change in purchases by consumers in response to price changes, changes the relative weighting of the goods in the basket.2 The overall result tends to be a lower CPI. However, critics view the methodological changes and the switch from a COGI to a COLI as a purposeful manipulation that allows the U.S. government to report a lower CPI. https://www.investopedia.com/articles/07/consumerpriceindex.asp
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  2. yes... just like how you would never see any politician ever utter the phrase we shouldnt' have printed so much money
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