Tim at "The Mess That Greenspan Made"
has a couple of charts up today that give a great example of just how funky government reporting of inflation really is.
First, let's have a look at what has been happening to the prices of television sets:
Wow! That's cool! Prices are falling and good times are here!
But wait a minute, then there's this chart of the cost of admission to movies, concerts and theatre's:
That is up a bit, but when you take the two and average them out ... voila' .... no inflation!