Eric Weinstein

@EricRWeinstein ↗

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Last Checked April 3, 2023

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Tue Mar 14 14:19:52 +0000 2023

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Eric Weinstein @EricRWeinstein

If you need a North Star to guide you, focus on the claim of *precision*. Q1: How is the “representative consumer” constructed? Q2: Which formula? Laspeyres? Lowes? Konus? Q3: Why that formula and why does the BLS claim it is within a COLA framework with ZERO preference data? — PolitiTweet.org

Posted March 14, 2023

Preceded By

Eric Weinstein @EricRWeinstein

You mean 6.0%. That’s a claim about the precision with which economists calculated our national inflation rate. Just explain to me first what this precise number actually represents given how much is now on the line with SVB, Social Security & Taxes. Like I’m 5. And stupid. 🙏 — PolitiTweet.org

#BREAKING: CPI has come in at expected at 6% It was forecasted at 6% and was previously 6.4% US CPI month on mon… https://t.co/B9dSUtkRhW

Posted March 14, 2023

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Eric Weinstein @EricRWeinstein

Q4: How much does this entire COL framework rest on the work of Erwin Diewert’s claims of superlative index numbers being exact for flexible functional forms? Q5: Were homothetic preferences assumed to get one number with this precision? On what basis was that justified? — PolitiTweet.org

Posted March 14, 2023