“Highest Inflation Since 1981” Is a Canard – This Is the Highest Inflation Ever, By a Lot


by Andrew Anglin, The Unz Review:

It’s not actually at a 40-year high. It’s the highest inflation ever.

When they claim it is merely a 40-year high, this makes people think “oh well, at least at some point in the past it was as bad as it is now and the world didn’t end back then so this must be okay.”

Woe unto ye.

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Numbers out this morning put inflation at an alleged 8.3%, and the whole media is claiming that this is “at a 40-year high.”

They have repeatedly changed the way inflation is calculated and then compared the numbers calculated using the newer – and much more dishonest – methods to previous numbers that were calculated in another way.

Here’s the thing: if they were going to change the way inflation was calculated, and this wasn’t some kind of scam, they would go back and retroactively change the previous calculations. You see this with money, where they say “in today’s dollars.”

Here’s an easy example: Gone with the Wind is still the highest grossing film of all time, although it only made $390 million – because $390 million in 1939 is nearly 4 billion dollars in current dollars.

Honest people will admit that Gone with the Wind is the highest grossing movie of all time, and it is pretty much always put at the top of lists because people calculate the change in the value of dollars.

This isn’t a precise analogy, but it’s the same concept.

Here’s another example: what if you were calculating temperature in Celsius, and the hottest day of the year was 35 degrees. Then you started calculating temperature in Fahrenheit, and the hottest day of the year was then 105 degrees, and you started saying “the hottest day of the year was three times hotter than the previous hottest day of the year”?

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