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This 2.6% figure is real GDP, meaning it's adjusted for inflation. [0]

[0] https://www.bea.gov/news/2022/gross-domestic-product-third-q...



Assuming inflation is being calculated accurately...


There is no "accurately", because there are many measures of inflation, each with its own particular claim to verisimilitude.

So any economic figure described as "adjusted for inflation" should taken with an extra measure of wariness.


You seem determined to find a way to discredit this figure.


Me with my one comment? Not at all, but there seems to be a lot of skepticism over official inflation figures, particularly for recent reporting.

Given there's usually a fairly significant magnitude of the variation on inflation figures depending on the exact methodology, I'd expect a similar magnitude for inflation-adjusted GDP no?


> Me with my one comment?

You've made the same comment several times.

> but there seems to be a lot of skepticism

Why are you switching to the passive voice? Are you saying this or not.

> Given there's usually a fairly significant magnitude of the variation on inflation figures depending on the exact methodology

Not really. The price of a basket of goods, over time. Same as it's always been. As as already mentioned, GDP takes into account these numbers.


>You've made the same comment several times.

Are you sure you don't have me confused with someone else? I don't see any multiple comments in my history unless you've gone back over 3 months ago. If that's what you're referring to, I have no problem with it, but it just seemed odd.

>Why are you switching to the passive voice? Are you saying this or not.

Passive voice is a perfectly valid style not a mistake, and I'll take that fight to the death. The sentence indicates not just my own skepticism, but also the sense I get from other people on HN and real life where the prevailing opinion seems skeptical.

>Not really. The price of a basket of goods, over time. Same as it's always been. As as already mentioned, GDP takes into account these numbers.

Boy I have a lot of issues with that. It's NOT the same basket of goods. I don't personally agree with many of the substitutions, nor the exclusion of ownership in housing. There are SEVERAL competing measures of inflation and the variance between them I've seen is on the order of 25% of the reported value. That amounts to at least +/-2%, and that really would have a big affect on purported inflation-adjusted GDP when purported growth is similar in magnitude to the variance on inflation.

So, I'm not necessarily saying that the growth values are flawed. But I think I have a healthy skepticism of it, and I think that's appropriate, and, that skepticism is undeniably tied to the published inflation figures. In my industry, there's been massive contractions in investments and resulting layoffs. I've also seen most of my peers restrict their luxury spending because they've been priced out due to inflation. My personal basket of goods has seen an average YOY inflation around twice the purported value.




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