> In other words, we have two different inflations happening at once
CPI is just an index of consumer prices. It's like saying that we have two stock markets because Nvidia is going up faster than Costco.
> People who happened to own the right assets getting richer and everyone else getting poorer
It's not a zero-sum game. Almost everyone is more wealthy than their peers 30-40 years ago.
Wealth disparities widen, but the reasons for this are complex and go beyond inflation. And frankly, many of them are self-inflicted. Every single housing development in my neighborhood is thoroughly protested by everyone. And most of what my city officials do is inventing new rules and regulations. They're not working for big corporations or the federal government.
> I don't think that's what an efficient market would do
Sounds like you spotted an arbitrage opportunity?
