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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This is, quite frankly, amazing. I can’t believe someone could stand in front of a microphone as the spokesperson for the President of the United States and simply lie continuously. He is literally stating the opposite of the truth in EVERY statement. Snow is getting close to the reality denial of Saddam’s old spokesman.
