I posted the following comment on Roberts's article: I will look forward to Michael Roberts’ next post on this issue. Meanwhile, though, I do have some questions on his statistics here. What he doesn’t account for is that the way of calculating the CPI (inflation) in the US has changed since the 1980s in such a way as to underestimate inflation. Below is a link that shows that if the old method of calculating the CPI were used, it would be at around 4% rather than under 1%. Further, I think that there has been massive inflation, but just not in consumer goods so much. The inflation has been in investment arenas, especially the stock market prices, but also in real estate. My view: the massive increase in money supply has gone in the main to the investors and therefore where they spend their money – stocks as well as real estate – has seen huge price increases. See: http://www.shadowstats.com/alternate_data/inflation-charts
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