I wanted to look into this a bit deeper than that tweet did. For instance, here are the base MSRP prices for regular cab Ford F-150 XLT's over those periods of time:
1996 Ford F-150 XLT Regular Cab MSRP: $14,150
2012 Ford F-150 XLT Regular Cab MSRP: $28,215, a 99.4% increase overall, a 6.6% increase per year
2021 Ford F-150 XLT Regular Cab MSRP: $39,125, a 176.5% increase overall, a 7.1% increase per year
A 99.4% increase in car prices over 15 years from 1996 to 2012 sounds about right, and a 176.5% increase over 25 years from 1996 to 2021 was still roughly in-line with that.
But the Fed's expert interpretation of average car prices showed an almost entirely flat average over that same 25 year period, meaning average new car prices never increased, and supposedly for 15 years of that average, new car prices were actually lower than they were in late 1996.
This is clearly fraudulent data, but it's what the Federal Reserve uses as key data points to decide prime interest rates and print money.
Abolish the Federal Reserve!
I beg you all to openly questionwho is running the Federal Reserve banks, and question what their nefarious purposes for using fraudulent data are.
I'm sure the data presented it probably mostly accurate. But it doesn't take into account that a job, let's say construction laborer, that was paying $10/hr in 1996 isn't making $30/hr now (probably closer to 18/hr in 2024). Or that housing has increased exponentially. Or that you probably have several subscription services that you didn't have in 96. Or any of the other thousand ways they've deceptively fucked everyone.
Thank you u/SophiesBoyfriend for sharing a tweet about this on c/KotakuInAction2.
I wanted to look into this a bit deeper than that tweet did. For instance, here are the base MSRP prices for regular cab Ford F-150 XLT's over those periods of time:
A 99.4% increase in car prices over 15 years from 1996 to 2012 sounds about right, and a 176.5% increase over 25 years from 1996 to 2021 was still roughly in-line with that.
But the Fed's expert interpretation of average car prices showed an almost entirely flat average over that same 25 year period, meaning average new car prices never increased, and supposedly for 15 years of that average, new car prices were actually lower than they were in late 1996.
This is clearly fraudulent data, but it's what the Federal Reserve uses as key data points to decide prime interest rates and print money.
Abolish the Federal Reserve!
I beg you all to openly question who is running the Federal Reserve banks, and question what their nefarious purposes for using fraudulent data are.
I'm sure the data presented it probably mostly accurate. But it doesn't take into account that a job, let's say construction laborer, that was paying $10/hr in 1996 isn't making $30/hr now (probably closer to 18/hr in 2024). Or that housing has increased exponentially. Or that you probably have several subscription services that you didn't have in 96. Or any of the other thousand ways they've deceptively fucked everyone.