Over at ShadowStats, John Williams pegs inflation for 2008 at 5%. A lot of people have a hard time believing that since there was an asset crash. But an asset crash is not deflation. It would be easier to show people that the cost of living actually rose in 2008 if I had reliable data for things like the cost of electricity, a bag of rice, etc.. from 2007, 2008, and 2009 to show that no such “crash” in those areas occured.
It should be simple enough to ask someone, “when the housing bubble crashed, did your electricity bill drop 40% too?” But unfortunately, as you know, it’s simply not enough.
Thanks in advance,
David