Nick explains why he’s generally not worried about a U.S. sovereign debt default, arguing the national debt has been reduced in real terms through “financial repression,” where inflation runs above the government’s interest costs. He challenges headline and core CPI as understating true inflation—especially due to the use of owner’s equivalent rent for housing—and describes his alternative “Pardini CPI” built with the government’s weightings but private-sector data (e.g., apartment rent and Zillow home prices).
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Chapters:
00:00 Introduction
01:52 CPI Headline vs Core
03:28 Parini CPI Method
04:19 Housing OER Flaw
05:48 Compounding Gap Impact
07:03 Why Inflation Understated
08:36 When Repression Breaks
10:47 Proof Not Conspiracy
12:27 Incentives To Underreport
13:51 Risk Assets And Inflation
16:45 How Much Higher Really
17:45 Real Risk Social Fabric
19:06 Wrap Up Questions
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