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That probably tells you something about the silliness of GDP but what does it tell you about inflation? We're certainly not less dependent on stuff than we used to be.
Von überall könnte das Volk, Urbrut alles Undemokratischen, Zelle des Terrors, über die gewählten Hüter von Wachstum und Wohlstand® kommen.
So raw materials shortages don't show up as much in the consumer price index, because service workers make do with less stuff.
Austerity can only be implemented in the shadow of a concentration camp.
Obviously holders of wealth in financial assets prefer the former, which concentrates the loss real income on wage earners, to the latter, which spreads the loss in real income into some of the high income households.
I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
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