No it doesn’t.

I can have an iPhone for $2 a day. It cost Apple $130 billion to create. What does that make me? Billions richer than the 1971 version of me.

Great video, but “CPI Index” is like “ATM machine”

Thank you for this ! One tiny friendly pushback: *federal* minimum wage would need to double to have kept up with inflation since 1971. But a large majority of Americans are not subject to the federal minimum wage b/c they live in jurisdictions w/ much higher minimum wages.

Great analysis, as always. I came across this this weekend, which is even dumber: And yes, like an idiot, I engaged with them. When will I learn?

One of the first things you’re taught in any entrance-level Econ course is positive vs normative economics: what is vs what should be. I notice these “studies” like to play fast and loose with this distinction, especially when it comes to entitlements (wage, aid, etc)

This is such a lazy analysis. Most economists have problems with CPI as an indicator of housing costs through the OER metric. You’re a joke if you think tv prices are more relevant than housing prices to cost of living

Do you post these on tiktok to debunk things for the idiots there

Great analysis. Anything using minimum wage as a historical comparison is a farce from the start. HOWEVER, please stop saying “CPI index” it’s like saying ATM machine or AC conditioner

CPI is a bad metric. They use things like price per CPU flop (which always goes down even though computer prices are going up) to skew the numbers in favor of the government. It’s safe to assume that whatever they report on CPI should be doubled for real inflation.

Purchasing power retard

Leading Report is a disinformation account.

College may only apply to young people, but these are still useful metrics to use. You can't choose to not have housing, you can't choose to not have healthcare (or it cascades into bigger issues). College is a bit questionable, but for many young people it is effectively mandatory. Lastly, the argument of using the 1% against 12% as misleading is valid, but the statement remains true as it refers specifically to minimum wage. It's just that the number of people who are affected by it is marginal.

Look at that beard! That’s a man you can trust! I believe the information he’s trying to share!