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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Archie Meeties who wrote (91301)2/5/2008 6:13:49 PM
From: bart13  Read Replies (1) | Respond to of 110194
 
The substitutions you note are not what John Williams is talking about but your point is also valid... although phone costs are an extremely small part of the average budget or BLS basket.

There are many many other items he is talking about, like hedonics, BS geometric weighting and homeowners equivalent rent, etc.



To: Archie Meeties who wrote (91301)2/5/2008 7:30:04 PM
From: sea_biscuit  Respond to of 110194
 
Using a cpi basket that adjust every 2 years ... ...

Except that some items in the basket are hedonically adjusted, some items like energy are deemed not part of the core basket, and some items like food, can be substituted by inexpensive rocks if food gets too expensive...


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