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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Uh. right…. And think, some Harvard Law or whatever graduate got fired/demoted/not hired in favor people like this person and Monica Goodling. Yet another fine accomplishment of the Bush administration. (via Atrios)
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