According to Ph.D.”s EJ Antoni and Peter St. Onge, if inflation is computed accurately, it turns out the US economy has actually been in recession since 2022, during most of the Biden-Harris abomination administration.
In the study, we made several pretty obvious adjustments to the deceptive way officials’ statistics calculate inflation. These nearly doubled inflation during Biden Harris, from 20.9% in the official so-called GDP deflator to 39.9%. It matched nearly perfectly the rise in fast food prices.
So, where are the adjustments? The biggest is housing official statistics. They use a convoluted lagged indicator based on rent, almost as if they’re trying to hide it. House prices increased by more than 40% while mortgage rates have nearly tripled. It is a very large number.
Second is something called hedonic adjustment, which reduces the price of a product if they think it has gotten better. It is a particular problem with regulation, which, of course, they always assume is worth it. So, your energy bill doubled because they mandated windmills. They could say global warming is so important that they adjusted for quality. Your energy bills allegedly went down because you got the electricity plus the climate change.
There is something called indirect purchase, where they don’t even bother measuring price. They use some proxies. For example, health insurance companies take profits and assume rising profits mean higher prices. There could be many reasons for that change: maybe lobbying hospitals, perhaps a mandated vaccine that is not selling anymore.
Taking all these adjustments made by Biden-Harris, it turns out that official numbers underestimated inflation by roughly half.
Then comes the kicker. Because both income and GDP are calculated after inflation, meaning if you miscounted inflation, you miscounted growth by a lot. Running the numbers means income growth over the past five years has not been 13% like officials statistics say it’s been -2.3%.
The illegal foreigners grew the population, salaries went down, and goods cost more.
Study: Inflation Undercounted by Half
My lastest study with EJ Antoni finds Biden-Harris inflation has been undercounted by *half.*
Meaning inflation has been close to 40%.
This suggests we’ve been in recession since at least 2022. pic.twitter.com/kDkrXkhbos
— Peter St Onge, Ph.D. (@profstonge) October 17, 2024
Excess government spending is driving America to bankruptcy! https://t.co/hgQvvKbgX8
— Elon Musk (@elonmusk) October 17, 2024
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