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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