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Finding Genius Podcast
An Accurate Understanding Of U.S. Inflation: A Deep Dive with John Williams Of Shadow Stats
Jan 29, 2025
Join John Williams, Founder of ShadowStats and a seasoned economist with over 30 years of experience, as he unravels the complexities of U.S. inflation. He highlights significant discrepancies between reported and real inflation rates, suggesting numbers could be much higher than stated. The conversation dives into political influences on economic data and the implications for social security. John also discusses the impacts of methodological changes on unemployment figures, revealing that true jobless rates may be greater than what is officially reported.
27:02
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Quick takeaways
- John Williams emphasizes the manipulation of inflation data, suggesting that the real rate is significantly higher than reported, around 8% to 11%.
- He highlights the exclusion of discouraged workers from unemployment statistics, implying that the true unemployment rate may exceed 20%.
Deep dives
Understanding ShadowStats and Its Importance
John Williams operates ShadowStats, a website focused on providing alternate economic data, particularly around inflation and employment statistics. His background as an economist since the 1970s allowed him to identify inconsistencies in government-reported figures. Williams emphasizes that many government statistics have been altered over time to present a more favorable economic picture, particularly in regards to the Consumer Price Index (CPI). This misrepresentation can significantly affect government functions, such as Social Security payments, as the adjustments were primarily made to cut the cost of living adjustments in response to fiscal pressures.
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