Trumps Tariffs
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I think the point was we have an equation with factors like X and Y. We can assign any number to the factors, but once we assign numbers to them we can then calculate what the real inflation is. So the equation is made up of variables, you assign fixed numbers to those variables and then you can calculate the answer which in this case would be the true inflation.
Another example would be, we could easily say that the rate of inflation today is higher than it was a few years ago and yet the rate of inflation has come down from six months ago. Most people with a fifth grade education can understand that.
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I tried to keep it as simple as possible, but I guess not simple enough for all.
What is the temperature outside this year?
It's a meaningless question without fixing a point in time, because that temperature varies-- that is, it is a variable number up until you fix it in time with a question like- what is the temperature right now?
Another simple example to explain the difference between price and rate is something everyone is familiar with-- Interest Rates.
If you borrow four hundred bucks from someone and agree to pay a 5% interest rate, you do so understanding that it will cost you more than the $400 to pay off the loan. The "price" is twenty bucks on a hundred dollar loan. The rate is 5%.
If the rate is slashed to 3%, we would say that the rate has been lowered, even though it is still going to cost you more to repay the loan, it now only costs $12 in interest instead of $20. That's the equivalent of a falling interest rate, or inflation RATE. The cost might still be greater than before, but the rate has fallen. It's likely that most of the folks writing the news story don't even understand this basic principle.
A point so nice, I made it twice.
Once for all, once again for the kids in the back of the room. Perhaps community college was not kind to you.
I hope you know I'm just trying to be funny, not mean.
Without getting even more wonky and nerd-like, I'm just trying to simplify mathematical language using common examples. If you are really interested, look up what a variable is and you'll discover that it is first changeable and unspecified until it becomes defined and fixed.
Do you really want this to be a hill to die upon?
I actually did!
As a young pup, I first went to a Bible College, and after a year of that, I went to a Community College for Trade School.
I hope you know I'm just trying to be funny, not mean.
Without getting even more wonky and nerd-like, I'm just trying to simplify mathematical language using common examples. If you are really interested, look up what a variable is and you'll discover that it is first changeable and unspecified until it becomes defined and fixed.
Do you really want this to be a hill to die upon?
Did you go to community college? lol
Only a professional victim would think so. I could mock in a smock and still be manly.