At @btcprague, @saylor highlighted that the S&P's 7.5% annual return is our real inflation rate (M2 expansion-11:26) https://youtu.be/Fi4a7IZ3MXc?feature=shared

nostr:npub1l9m7vr8pzjzshuqglrcku2rz6kky542j7lr7gutvulswkcn5eswsge4ws4 raised this point at Harvard Club's Charlotte #Bitcoin  event (nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev)

While the FED emphasizes that CPI is inflation, CPI really only acts as a (+ or -) stnd dev. *around* inflation.

It is *not* inflation for many reasons,

but... add or subtract CPI from the annual inflation rate (M2's increase/decrease), and you get a number much closer to what we actually pay for goods.

What we pay *is* our inflation rate, regardless of what the FED attempts to claim (CPI).

CPI's the rate of change. Not the metric.