{"id":13521,"date":"2024-04-29T19:27:21","date_gmt":"2024-04-29T19:27:21","guid":{"rendered":"https:\/\/lonecandle.com\/?p=13521"},"modified":"2024-04-29T19:27:22","modified_gmt":"2024-04-29T19:27:22","slug":"most-americans-arent-buying-bidens-misleading-narrative-that-the-economy-is-getting-better","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=13521","title":{"rendered":"Most Americans Aren&#8217;t Buying Biden&#8217;s Misleading Narrative That the Economy Is Getting Better"},"content":{"rendered":"\n<p>&#8220;&#8221;Pre-1983, mortgage costs were in the CPI as were car payments pre-1998. Now, price indexes do not include borrowing costs. Thus, when interest rates jumped last year, official inflation did not fully capture the effects it would have on consumer well-being.&#8221;<\/p>\n\n\n\n<p>Indeed, if we measured inflation as we did in the 1970s, the inflation that started in 2021 would have peaked at 18 percent\u2014double its reported peak. That&#8217;s higher than the worst of the 1970 and &#8217;80s. Inflation&#8217;s current annual rate would be about 8 percent.&#8221;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-reason-com wp-block-embed-reason-com\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"P95IUp99n2\"><a href=\"https:\/\/reason.com\/2024\/03\/28\/most-americans-arent-buying-bidens-misleading-narrative-that-the-economy-is-getting-better\/\">Most Americans Aren&#8217;t Buying Biden&#8217;s Misleading Narrative That the Economy Is Getting Better<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Most Americans Aren&#039;t Buying Biden&#039;s Misleading Narrative That the Economy Is Getting Better&#8221; &#8212; Reason.com\" src=\"https:\/\/reason.com\/2024\/03\/28\/most-americans-arent-buying-bidens-misleading-narrative-that-the-economy-is-getting-better\/embed\/#?secret=yic8h2Rewb#?secret=P95IUp99n2\" data-secret=\"P95IUp99n2\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;&#8221;Pre-1983, mortgage costs were in the CPI as were car payments pre-1998. Now, price indexes do not include borrowing costs. Thus, when interest rates jumped last year, official inflation did not fully capture the effects it would have on consumer well-being.&#8221;<br \/>\nIndeed, if we measured inflation as we did in the 1970s, the inflation that started in 2021 would have peaked at 18 percent\u2014double its reported peak. That&#8217;s higher than the worst of the 1970 and &#8217;80s. Inflation&#8217;s current annual rate would be about 8 percent.&#8221;<\/p>\n<p>https:\/\/reason.com\/2024\/03\/28\/most-americans-arent-buying-bidens-misleading-narrative-that-the-economy-is-getting-better\/<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[375,217,165,1316,780,1407],"class_list":["post-13521","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-biden","tag-economics","tag-economy","tag-inflation","tag-joe-biden","tag-prices"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/13521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13521"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/13521\/revisions"}],"predecessor-version":[{"id":13522,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/13521\/revisions\/13522"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}