{"id":649,"date":"2024-10-14T17:58:20","date_gmt":"2024-10-14T23:58:20","guid":{"rendered":"https:\/\/marginalnonhermit.com\/?p=649"},"modified":"2024-10-14T17:58:20","modified_gmt":"2024-10-14T23:58:20","slug":"inflation-the-econometric-mirage","status":"publish","type":"post","link":"https:\/\/marginalnonhermit.com\/?p=649","title":{"rendered":"Inflation: The Econometric Mirage"},"content":{"rendered":"\n<iframe id=\"odysee-iframe\" style=\"width:100%; aspect-ratio:16 \/ 9;\" src=\"https:\/\/odysee.com\/$\/embed\/@MarginalNonHermit:3\/inflation-mirage:4?r=8gvoByECHNgc2BfQ5o91oxf89bpi1Ui4\" allowfullscreen><\/iframe>\n\n\n\n<p class=\"\">Just some quick thoughts on why monetary inflation might look &#8220;good&#8221; from an econometric perspective, while hiding the negative effects.<\/p>\n\n\n\n<p class=\"\">The shortest argument seems to be that the &#8220;positive GDP&#8221; effects of monetary inflation hit immediately, while the &#8220;negative GDP&#8221; effects hit later. That allows politicians and economists to blame other factors for the downturn.<\/p>\n\n\n\n<p class=\"\">It&#8217;s also worth remembering that GDP makes the mistake of assuming a dollar spent by the government is equivalent to a dollar spent by the private sector, as far as satisfying the actual needs and wants of people.<\/p>\n\n\n\n<p class=\"\">I&#8217;ve handled that fallacy in this article at the Mises Wire.<\/p>\n\n\n\n<p class=\"\">This video is available on <a href=\"https:\/\/odysee.com\/@MarginalNonHermit:3\/inflation-mirage:4\">Odysee<\/a>, <a href=\"https:\/\/old.bitchute.com\/video\/ZYwedpOh35Kx\/\">BitChute<\/a>, and <a href=\"https:\/\/www.youtube.com\/watch?v=UnkCZ3BVMPM\">YouTube<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just some quick thoughts on why monetary inflation might look &#8220;good&#8221; from an econometric perspective, while hiding the negative effects. The shortest argument seems to be that the &#8220;positive GDP&#8221; effects of monetary inflation hit immediately, while the &#8220;negative GDP&#8221; effects hit later. That allows politicians and economists to blame other factors for the downturn. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":499,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,2],"tags":[37,63,185],"class_list":["post-649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economics","category-video-link","tag-economics","tag-fiat-money","tag-inflation"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/marginalnonhermit.com\/wp-content\/uploads\/2023\/12\/dollars.jpg?fit=800%2C529&ssl=1","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/posts\/649","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=649"}],"version-history":[{"count":1,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/posts\/649\/revisions"}],"predecessor-version":[{"id":650,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/posts\/649\/revisions\/650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/media\/499"}],"wp:attachment":[{"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}