Inflation has been called the invisible tax.
Economist John Maynard Keynes wrote that, through it, "Governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens" in a process that "engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."
Which is why it's very important to know what's happening with inflation and where it's headed.
But should we rely on government's reported numbers, as distorted as they are by fudge-factors like hedonics and substitution, and possible manipulation for political optics?
No, says today's guest, Oliver Rust, co-founder of Truflation, a new blockchain-based real-time inflation calculation service that uses over 10 million data points to yield a more accurate measurement that represents what households actually experience.
We'll find out what he thinks the true inflation rate is and where he sees it heading next.
Follow Truflation at https://truflation.com/ or on social media at @truflation
Email Oliver at oliver@truflation.com
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