Got it. Can you show is the data of the exact items that have gone up more than the stated inflation rate, and then also show the volume at which these goods are purchased by Americans in the last 12 months, and then average that out with prices across the rest of the economy?
Here's a ChatGPT reply about how much beef has increased significantly more in price than the basket of goods they report:
https://chatgpt.com/share/6ad47edb-3468-83eb-8f91-3be199ff4bcd.
Yes, as I mentioned, the cows got sick, which has increased the price of beef temporarily in the USA and elsewhere.
No, I do not know the volume at which beef is purchased by Americans in the last year, nor do I care really. Most people nowadays are sugar addicts.
In other words, you don't want to know any relevant facts to back up the assertions you've applied from your Ayn Rand books.
Nope. The official inflation rates take into account the price of housing, so that's not it.
If I include a house that rose by 100% in price at the same basket with Cheetos that only rose 10%, then inflation is mild and there is progress! Fiat economics in a nutshell.
You are making up numbers out of thin air to support your assertions now.
Beef has gone up in the USA in the last two years because lots of cows got sick, not because of a conspiracy by the jews.
Beef has gone up, because of the rancher's expenses going up dramatically because of inflation.
Can you offer the evidence for that? And while you are at it, compare those effects to the disease issues ranchers are having?
Or are you just making stuff up again in order to make your argument align with the abstractions in your Ayn Rand books?
The problem is that the majority of the world has been tricked into placing junk ultra-processed sugar as a big part of their diet, whose supply is much less reactive to inflation. For example, for the ranch to produce the same beef, expenses increase way more than in comparison with the Cheetos factory to produce the same supply of garbage. This tricks people into thinking that inflation is mild, because the basket of goods contains mostly garbage like sugar and hydrocarbons.
The people living on a human diet that consists of food that does not slowly kill them experience much more inflation than the sugar addicts.
Um, beef slowly kills you. Ever heard of cholesterol?
But anyhow, you have retreated to stating that there's only higher inflation for food you consider more healthy. Good progress, but food itself is only a small portion of the expense picture for average Americans. There are other things like housing, energy, transportation and health care to consider. All of those things have gone up on a USD basis in the last 20 years, and if you average them all it comes to... the numbers that the US government puts out for our inflation rate.
The US inflation rate is not "fake news", nor could it be since markets rely on this data. Trump would absolutely love to fake this number the other way and make it smaller, but he knows he can't because markets will know it's fake and it will make things much worse for him, since the lack of confidence in the numbers will screw up the markets for stocks (and Bitcoin too for that matter).
And since the inflation rate is not fake news, then:
1. The price of Bitcoin does not correlate, in any way, with US inflation, and is entirely unrelated to it.
2. The "tax" levied at rich people when they pay capital gains tax on assets that merely keep up with inflation is a very modest one--especially compared to gains they make on their investments themselves. US stock portfolios that have gone up 10% in the last three years because of USD inflation have often gone up 100% because of the stock market. People who timed the Bitcoin market perfectly and make 10x gains in the last five years will see perhaps 1% of their gains being caused by inflation and 99% of their gains caused by their lucky timing of the market.
In the US and elsewhere we tax people if they successfully make money from their investments. We don't tax people who make zero on a USD basis. The US ADAPT act is simply codifying that for instruments that by definition will not change on a USD basis, saving everybody lots of paperwork. It is not a conspiracy against Bitcoin, or a conspiracy by the Illuminati to control our minds.
