charles.thompson » 19 Dec 2017 4:34 pm » wrote:
population is much greater than it was in the 60's also. There are a lot of variables to keep track of when dealing with 'purchasing power'. Its a highly complex issue. But inflation never tells the whole story. I just suggest you try to not oversimplify the issue. It is quite possible that the fed has succeeded at 2% inflation while milk is too expensive, at the same time.
Except that you cannot make that case, as EVERYTHING has gone up by 5% a year, including worker productivity (except wages and COLAs).
As to over-simplifying, anyone defending the fed is in no position to issue such caveats. Only simple fairy tails can pretend away the stink of a private consortium having stolen our currency issuing authority and posed as a "quasi" governmental agency - and you have
simply drunk the koolaid.
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