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"You realize that inflation is back at baseline, right?"

Not in the US or GB. From which country are you writing?




Last US CPI report was 3.7% YoY and a little better than that in seasonally-adjusted monthly numbers. That's well inside one standard deviation of the historical average (which is something like 2.9% I think). There's space for yelling about specifics within the economics community, but the current conditions are absolutely not consistent with a description of "high inflation" that matches the rhetoric being deployed above.


So only twice the baseline?


My division says 28% higher than historical average? Are you trying to cite a different number? Look, seriously, please stop: inflation is not high. Period. It's in a range that we would have considered perfectly normal at almost any time in the last hundred years.

The only reason people are bent out of shape about it is that it was high, briefly, for about 11-13 months or so, and they internalized the debate about it based on a partisan frame that's very difficult to escape. But please try.


I think with our interconnected and distributed economy we now have the ability to make our own inflation.

I'm sure in any major US city I can find a pair of Khakis for $10 (thrift store) or $1,000. We all get to set our own inflation in the new economy.




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