Newsweek’s Daniel Gross explains the Consumer Price Index (here’s the official BLS site) in a very simple video. I could do without the goofy sound effects, but it’s a good, 2 minute explanation of how the government tracks inflation.
Per David Simon’s Berkeley talk, though, the video doesn’t go into why this matters. Perhaps they’ll cover that in the next installment of the Economics 101 series.
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Seriously, I don’t envy her the job she has to do. It must suck to have to go up there and defend a position that you know makes no sense. Add to that the unbelievable administration back story reported by the Washington Post and there’s really only one conclusion. Cheney should leave his position and the White House should ask for him to resign. More on that later.
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