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Ritual Incantation In The Eccles Building

Summary:
“Base effect” my eye! When you calculate the inflation increase on a two-year stacked basis you simply leap over the chasm of last spring’s Lockdown plunge and compute the gain over two years’ time from the pre-Covid level. That is, the computation tells you where you are, even after the “base effect” plunge is accounted […]

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“Base effect” my eye! When you calculate the inflation increase on a two-year stacked basis you simply leap over the chasm of last spring’s Lockdown plunge and compute the gain over two years’ time from the pre-Covid level. That is, the computation tells you where you are, even after the “base effect” plunge is accounted […]
David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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