Free Republic

Most Americans have been led to believe that the Consumer Price Index (CPI) actually measures, from one year to the next, the "cost of maintaining a constant standard of living" as the prices for goods we purchase increase. Indeed, we are foolish enough to believe that the index is an accurate measure of the price increases for the same basket of goods we buy every year. If this were actually true, the index would show an honest increase of 3% - 4% in price, there would be no productivity miracle, interest rates would be much higher, and bond and stock...