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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You would think, just maybe CNN is embarrassed to have this guy on the air. He is a bigot and a liar and, quite frankly, has gone down the stupid tunnel with this comment. (via Atrios)
