12-20-2021, 06:36 PM
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Planar Protector
Join Date: Jul 2011
Posts: 2,898
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Quote:
Originally Posted by Gatordash
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They are qualifying "rich" people as people who want to buy cars and homes. That is middle class imo. Real rich people already have those assets and inflation is now making them more rich because of it. Either way though, its still easier for 'rich' people to buy groceries than the poor. Pretty shitty article imo.
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Quote:
“New research from Harvard economist Alberto Cavallo shows both sides were right, sort of: Inflation has been worse for wealthy people, and it's looking very transitory for everyone else.
Cavallo's work has to do with how inflation measures like the Consumer Price Index, published by the Bureau of Labor Statistics, are built around "consumption baskets," which are based on annual surveys that ask people how they spend their money.
The results of those surveys are used to figure out what an average household spends on different things like food, housing, cars, education, or health care.
The surveys used by the BLS to construct the baskets show that lower-income households spend a higher share of their money on things like groceries and shelter, while wealthier households can afford to spend a larger percentage of their dollars each month on things like transportation, recreation, and dining out.
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I think you called an article from a prestigious school pretty poor without actually reading it. |
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