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CPI (edit)

Revision as of 05:27, 20 October 2025

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{{Tweet
|image=Eric profile picture.jpg
|nameurl=https://x.com/EricRWeinstein/status/1476132726084280321
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content=I’m prepared to have high level conversations about this. But our current system is an abomination. No one knows what is in or out. It’s a black box that means little. The theory is bad. The explanations are fake. And the system is opaque. Even a Laspeyres without lies is better.
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{{Tweet
|image=Eric profile picture.jpg
|nameurl=https://x.com/EricRWeinstein/status/1476058806555578370
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content=The funniest part of our inflation measure is the “.8” here.
 
I so wish they were a little bolder and went with “6.8139942%, plus or minus 3*10**(-7) according to a Lowe index modified by hedonic adjustment for sub-aggregates” or some such.
 
More of us could share such a moment.
|quote=
{{Tweet
|image=charliebilello-profile.png
|nameurl=https://x.com/charliebilello/status/1474396489938083861
|name=Charlie Bilello
|usernameurl=https://x.com/charliebilello
|username=charliebilello
|content=5 / The 6.8% inflation rate in the US is the highest inflation we've seen since 1982 and is understating true price increases as it assumes "shelter" (largest component of CPI @ 33%) only increased 3.8% in the last year.
 
Breakdown of reported CPI:
|media1=charliebilello-X-post-1474394587825418246-FHYZj9XXoAIPfHi.jpg
|timestamp=3:08 PM ¡ Dec 24, 2021
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|timestamp=5:13 AM ¡ Dec 29, 2021
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{{Tweet
|image=Eric profile picture.jpg
|nameurl=https://x.com/EricRWeinstein/status/1476058808375918592
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content=The meaning of the .8 is significant, but only because of the wealth that will be transferred by it. It is not really meaningful as part of a measure of the cost of living for the representative consumer.
 
It’s effectively made up to make the “6.x” look solid. Which it isn’t.
|timestamp=5:13 AM ¡ Dec 29, 2021
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{{Tweet
|image=b_bran223-profile-oTqdZAfO.jpg
|nameurl=https://x.com/b_bran223/status/1476074954332508165
|name=JAB
|usernameurl=https://x.com/b_bran223
|username=b_bran223
|content=Do you actually have a point here? Your quibble is with the “.8” because it “makes the 6.x look good”??? How do you figure. I honestly think you tweet sometimes purely for the sake of it
|timestamp=5:17 AM ¡ Dec 29, 2021
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{{Tweet
|image=Eric profile picture.jpg
|nameurl=https://x.com/EricRWeinstein/status/1476085541774917635
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content=Actually there are many points.
 
Inflation isn’t a number it’s a field.
 
Inflation is path dependent.
 
Don’t advertise precision that doesn’t exist.
 
'''CPI''' is not yet in the COL framework as claimed by BLS.
 
Path dependence should be embraced.
 
Etc.
 
My followers have heard them.
|timestamp=6:59 AM ¡ Dec 29, 2021
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{{Tweet
|image=b_bran223-profile-oTqdZAfO.jpg
|nameurl=https://x.com/b_bran223/status/1476074954332508165
|name=JAB
|usernameurl=https://x.com/b_bran223
|username=b_bran223
|content=Eric, I am one such enlightened follower..
 
In what regard/magnitude is stochastic path dependency to change such CPI value if prior estimates are proportionately miscalculated? At this point in time, how best would you gauge the relative rate?
|timestamp=5:17 AM ¡ Dec 29, 2021
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{{Tweet
|image=b_bran223-profile-oTqdZAfO.jpg
|nameurl=https://x.com/b_bran223/status/1476074954332508165
|name=JAB
|usernameurl=https://x.com/b_bran223
|username=b_bran223
|content=This seems to be more along the line of your “nuclear vs nucular” reference by which we quibble about semantics, with absurdly low impact on the end problem. The lack of precision for x path dependent function would similarly yield y persons debating lack of precision..
|timestamp=5:21 AM ¡ Dec 29, 2021
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{{Tweet
|image=Eric profile picture.jpg
|nameurl=https://x.com/EricRWeinstein/status/1476129648845078530
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content=I don’t want to go into it all here. But here is what I want.
 
A) BLS stops lying about COL framework. Stops hand waving about economic vs mechanical indexes.
 
B) Stop readying c-cpi-u to take over from cpi-u. We can see you coming.
 
C) Move towards personalized CPI using inputs.
|timestamp=9:55 AM ¡ Dec 29, 2021
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{{Tweet
|image=Eric profile picture.jpg
|nameurl=https://x.com/EricRWeinstein/status/1476130653548658689
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content=D) Embrace curvature if moving to chaining.
 
E) Publish methodology of basket or representative consumer(s). BLS isn’t an oracle.
 
F) Consider moving to a Cobb-Douglas/CES aware changing preference  mechanical index if wedded to COL.
 
G) Admit to conflicts of interest ([[Boskin Commission|Boskin]]).
|timestamp=9:59 AM ¡ Dec 29, 2021
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{{Tweet
|image=Eric profile picture.jpg
|nameurl=https://x.com/EricRWeinstein/status/1476132066378928128
|name=Eric Weinstein
|usernameurl=https://x.com/EricRWeinstein
|username=EricRWeinstein
|content=H) Move to field theoretic & group-valued indices (e.g. GL(2, R) indices for trade).
 
I) Stop trying to hide Holonomy. It’s there. Accept that it is supposed to be there rather than hiding it with Walsh multi-period circularity test.
 
Etc.
 
But please stop making vacuous claims.
|timestamp=10:04 AM ¡ Dec 29, 2021
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|timestamp=10:07 AM ¡ Dec 29, 2021
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=== 2022 ===
=== 2022 ===
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