skeezyboy
Joined 1 year ago
Joined 1 year ago
Quote from https://www.bls.gov/cpi/questions-and-answers.htm BLS data collectors visit (in person, on the web, or using apps) or call thousands of retail stores, service establishments, rental units, and doctors' offices, all over the United States to obtain information on the prices of the thousands of items used to track and measure price changes in the CPI. We record the prices of about 80,000 items each month, representing a scientifically selected sample of the prices paid by consumers for goods and services purchased. During each call or visit, the data collector collects price data on a specific good or service that was precisely defined during an earlier visit. If the selected item is no longer available, or if there have been changes in the quality or quantity (for example, a 64-ounce container has been replaced by a 59-ounce container) of the good or service since the last time prices were collected, a new item is selected or the quality change in the current item is recorded.
so dont worry about what i wrote, whats important was what i was thinking? fair enough
If market value is the instrinsic value, how could two separate markets get different prices for the same asset?
edit: https://www.ons.gov.uk/economy/inflationandpriceindices/meth...
methodology states it is based on prices quoted
i was quoting you... but you have tried to have it both ways. you said....
> Price measures what you are giving up to receive value.
notice you didnt say gave, you said giving. There is a price before the "transaction"
> Price is not determined until a voluntary transition takes place
But we had a price before we made the purchase??? If you swap price with market value in the second quote youre completely right.
Market Value is determined in this offer/sell kind of fashion precisely because it ISNT intrinsic.
but its nothing like pornography. were talking about "screen time" which is a vague generic idea, just the same as "social media" encompasses pretty much any major tech companies website/app instead of actual mediums for socializing like IRC, forums etc that were around for decades prior just never called that