In the early-1990s, political Washington moved to change the nature of the CPI. The contention was that the CPI overstated inflation (it did not allow substitution of less-expensive hamburger for more-expensive steak).Thats the most stupid thing I've ever heard. Typical governmental logic.
Abe was wrong, you can fool all the folks all the time.
In the early-1990s, political Washington moved to change the nature of the CPI. The contention was that the CPI overstated inflation (it did not allow substitution of less-expensive hamburger for more-expensive steak). Yup, probably the most stupid thing Williams has ever written. But he has subscriptions to sell, and people eat this sort of stuff up [pun intended].