Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Don Lloyd who wrote (10971)	11/4/2001 3:19:33 PM
From: KyrosL	of 74559

Don, the hedonic adjustments for computers are probably not done correctly. But other goods, for example drugs and medical services, that should be adjusted hedonically, are not, and therefore, I think that we are substantially overestimating inflation, even with the excessive hedonic adjustment in computers. Between 1992 and 1998 the average US life expectancy has increased by nearly one year, or over 1%. No matter what measure you use for the value of a US life, this represents tremendous value which is not captured by current economic statistics. IMO, this wipes out a lot of the reported inflation between 1992 and 1998.

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