Re: German Bond Auction Failure Today Quote:
Originally Posted by new_trader Shadow stats still calculates inflation exactly the way the BLS used to calculate it before they introduced the concept of hedonics and substitution, that is why shadow stats is credible. That is why the figures line up in the early 80's. That is why their figures match those reported by General Mills.
I read that the price of a 1st class stamp is going up 30% next month. Great news, buy 1st class stamps now, that's a guaranteed return! Stamp prices soar to record highs - UK News - MSN News UK |
No, this is a myth that has been thoroughly discredited by quite a bit of research... Moreover, comparing ShadowStats CPI with the PPI figures that the General Mills release refers to is incorrect.
Finally, John Williams, the economist behind ShadowStats, has been invited numerous times to make his exact methodology public and to debate it with other economists. He has refused every single one of these invitations and has refused to submit his "research" for peer review of any sort. Moreover, one has to be aware of the fact that ShadowStats is a business venture, which depends on publicity for revenue. All of the above suggests to me that ShadowStats is just not very credible, where actual economic data is concerned.
Finally, on the subject of UK stamps, what does that have to do with the subject of US inflation, which is what I thought we were discussing?
__________________ "Insofar as I may be heard by anything, which may or may not care what I say, I ask, if it matters, that you be forgiven for anything you may have done or failed to do which requires forgiveness." |