Semantics Relevance

With Inflation This High, Nobody Knows What a Dollar Is Worth

Logical Analysis Report (click to view);
Knowledge Map (click to view)
*Knowledge Map Navigation: Spatial co-ordinations are initially random, and will automatically re-arrange to minimize complexity based on distance between relationships. Mouse down and drag to pan. Right click on the strategic diagram toggles between motion and stationary. Hover over abstract node (orange) to view abstractions. Hover over leaf node to view corresponding narrative. Left click on the leaf node expands the narrative to view full text.

Knowledge Diagram Navigation:

Spatial co-ordinations are initially random, and will automatically re-arrange to minimize complexity based on distance between relationships. Mouse down and drag to pan. Right click on the strategic diagram toggles between motion and stationary. Hover over abstract node (orange) to view abstractions. Hover over leaf node to view corresponding narrative. Left click on the leaf node expands the narrative to view full text.

Narrative Analysis - Report

Key Focus

  • Meticulous research by the economists David Autor, Annie McGraw and Arindrajit Dube shows that for lower-income people, real wages have risen, erasing nearly 40 percent of the longstanding wage gap between richer and poorer workers in the United States ...
  • Even so, because inflation in essentials like food, housing and transportation stresses lower-income people more acutely than the rich, it's not clear that those wage increases are well appreciated ...

    • No momentum supporting factor found

    Challenge supporting factors

  • (inflation,economists)
  • (market,inflationary)
  • (market,stock,inflationary)
  • (market,erroneous)
  • (market,stock,erroneous)
  • (market,conclusion)
  • (market,stock,conclusion)

    • Work-in-progress supporting factors

  • (inflation,wage,lower-income)
  • (inflation,wage,workers)
  • (inflation,wage,united_states)
  • (wage,united_states)
  • (wage,workers,united_states)
  • (wage,lower-income)
  • (wage,workers,economists)
  • (wage,workers,lower-income)
  • (inflation,wage,longstanding)
  • (wage,longstanding)
  • (wage,workers,longstanding)
  • (inflation,wage,erasing)
  • (wage,erasing)
  • (wage,workers,erasing)
  • (inflation,economists)

    • Time PeriodChallengeMomentumWIP
    Report6.15 0.00 93.85

    High Level Abstraction (HLA) combined

    High Level Abstraction (HLA)Report
    (1) (inflation,wage,lower-income)100.00
    (2) (inflation,economists)58.09
    (3) (inflation,wage,workers)52.34
    (4) (inflation,wage,united_states)52.13
    (5) (wage,united_states)51.49
    (6) (wage,workers,united_states)50.85
    (7) (wage,lower-income)49.36
    (8) (wage,workers,economists)48.94
    (9) (wage,workers,lower-income)48.30
    (10) (inflation,wage,longstanding)48.09
    (11) (wage,longstanding)47.45
    (12) (wage,workers,longstanding)46.81
    (13) (inflation,wage,erasing)46.60
    (14) (wage,erasing)46.17
    (15) (wage,workers,erasing)45.53
    (16) (inflation,wage,economists)44.68
    (17) (inflation,wage,david_autor)43.83
    (18) (inflation,wage,arindrajit_dube)43.40
    (19) (inflation,consumer,sentiment,skewing)42.13
    (20) (inflation,consumer,skewing)40.21
    (21) (inflation,sentiment,skewing)39.79
    (22) (inflation,consumer,negative)39.15
    (23) (inflation,stock,market)38.30
    (24) (inflation,consumer,sentiment,negative)37.23
    (25) (inflation,sentiment,negative)36.17
    (26) (inflation,consumer,model)35.96
    (27) (inflation,consumer,sentiment,model)34.04
    (28) (inflation,sentiment,model)32.55
    (29) (inflation,consumer,increase)32.34
    (30) (inflation,consumer,sentiment,increase)31.49
    (31) (inflation,sentiment,increase)30.85
    (32) (inflation,lower-income)30.64
    (33) (inflation,consumer,growth)30.43
    (34) (inflation,consumer,sentiment,growth)29.57
    (35) (inflation,sentiment,growth)28.94
    (36) (inflation,increases,housing)28.72
    (37) (inflation,consumer,forecast)28.51
    (38) (inflation,housing)27.87
    (39) (inflation,consumer,sentiment,forecast)27.66
    (40) (inflation,government)27.02
    (41) (inflation,sentiment,forecast)27.02
    (42) (inflation,consumer,fed)26.60
    (43) (inflation,consumer,sentiment,fed)25.74
    (44) (inflation,sentiment,fed)25.11
    (45) (inflation,consumer,employment)24.68
    (46) (inflation,consumer,sentiment,employment)23.83
    (47) (inflation,sentiment,employment)23.19
    (48) (inflation,consumer,sentiment,economic)22.77
    (49) (inflation,sentiment,economic)22.13
    (50) (inflation,consumer,unemployment)20.43
    (51) (inflation,consumer,hard)20.21
    (52) (inflation,market)20.00
    (53) (inflation,stock,unwary)18.72
    (54) (inflation,stock,pierce)18.51
    (55) (inflation,stock,markets)18.30
    (56) (inflation,stock,lotteries)18.09
    (57) (inflation,stock,inflation-adjusted)17.87
    (58) (inflation,stock,humans)17.66
    (59) (inflation,stock,hard-earned)17.23
    (60) (inflation,stock,frothy)16.81
    (61) (inflation,stock,economist)16.38
    (62) (inflation,stock,chimeras)15.96
    (63) (inflation,increases,government)13.83
    (64) (inflation,increases,costs)13.62
    (65) (inflation,increases,cost)13.40
    (66) (inflation,cost,government)12.34
    (67) (inflation,cost,credit)11.91
    (68) (inflation,workers)11.70
    (69) (market,inflation-adjusted)11.49
    (70) (market,stock,inflation-adjusted)10.85
    (71) (market,robert_shiller)10.64
    (72) (market,stock,robert_shiller)10.00
    (73) (market,inflationary)9.79
    (74) (market,stock,inflationary)9.15
    (75) (market,erroneous)8.94
    (76) (market,stock,erroneous)8.30
    (77) (market,economists)8.09
    (78) (market,stock,economists)7.45
    (79) (market,conclusion)7.23
    (80) (wage,economists)6.60
    (81) (market,stock,conclusion)6.60
    (82) (market,analysis)6.38
    (83) (market,stock,analysis)5.74
    (84) (wage,psychologist)4.68
    (85) (wage,workers,psychologist)4.04
    (86) (wage,peter_diamond)3.83
    (87) (wage,workers,peter_diamond)3.19
    (88) (wage,inflation-adjusted)2.98
    (89) (wage,workers,inflation-adjusted)2.34
    (90) (wage,employers)2.13
    (91) (wage,workers,employers)1.49
    (92) (wage,workers,eldar_shafir)1.28
    (93) (wage,meticulous)0.64

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    Supporting narratives:

    Please refer to knowledge diagram for a complete set of supporting narratives.

    • challenge - Back to HLA
      • At the moment, consumer sentiment surveys are skewing lower than they have in periods that were similar in economic growth and employment. Neale Mahoney and Ryan Cummings, two economists at Stanford, think inflation, and lingering dissatisfaction with price levels, may well be the cause. ...
      • High Level Abstractions:
        • (inflation,economists)
        • Inferred entity relationships (1)
        • (economists,inflation,wage) [inferred]

    • challenge - Back to HLA
      • Because of setbacks in the past few weeks - high inflation and a faltering stock market - the market has fallen below peak levels in real terms.. . Using nominal returns in an inflationary era can lead you to the erroneous conclusion that market is generating phenomenal returns ...
      • High Level Abstractions:
        • (market,inflationary)
        • (market,stock,inflationary)
        • Inferred entity relationships (2)
        • (inflationary,market) [inferred]
        • (inflationary,market,stock) [inferred]

    • challenge - Back to HLA
      • Because of setbacks in the past few weeks - high inflation and a faltering stock market - the market has fallen below peak levels in real terms.. . Using nominal returns in an inflationary era can lead you to the erroneous conclusion that market is generating phenomenal returns. ...
      • High Level Abstractions:
        • (market,erroneous)
        • (market,stock,erroneous)
        • (market,stock,conclusion)
        • (market,conclusion)
        • Inferred entity relationships (4)
        • (erroneous,market,stock) [inferred]
        • (conclusion,market) [inferred]
        • (erroneous,market) [inferred]
        • (conclusion,market,stock) [inferred]

    • WIP - Back to HLA
      • Meticulous research by the economists David Autor, Annie McGraw and Arindrajit Dube shows that for lower-income people, real wages have risen, erasing nearly 40 percent of the longstanding wage gap between richer and poorer workers in the United States. ...
      • High Level Abstractions:
        • (inflation,wage,workers)
        • (wage,longstanding)
        • (inflation,lower-income)
        • (wage,united_states)
        • (inflation,wage,united_states)
        • (inflation,economists)
        • (inflation,wage,longstanding)
        • (wage,workers,longstanding)
        • (wage,workers,united_states)
        • Inferred entity relationships (6)
        • (economists,inflation,wage) [inferred]
        • (united_states,wage,workers) [inferred]
        • (united_states,wage) [inferred]
        • (longstanding,wage,workers) [inferred]
        • (inflation,lower-income,wage) [inferred]
        • (longstanding,wage) [inferred]

    • WIP - Back to HLA
      • Meticulous research by the economists David Autor, Annie McGraw and Arindrajit Dube shows that for lower-income people, real wages have risen, erasing nearly 40 percent of the longstanding wage gap between richer and poorer workers in the United States ...
      • High Level Abstractions:
        • (wage,workers,lower-income)
        • (inflation,wage,david_autor)
        • (wage,workers,erasing)
        • (wage,erasing)
        • (wage,workers,economists)
        • (wage,lower-income)
        • (inflation,wage,lower-income)
        • (inflation,wage,economists)
        • (inflation,wage,arindrajit_dube)
        • (inflation,wage,erasing)
        • Inferred entity relationships (8)
        • (economists,inflation) [inferred]
        • (inflation,lower-income) [inferred]
        • (lower-income,wage) [inferred]
        • (lower-income,wage,workers) [inferred]
        • (inflation,wage,workers) [inferred]
        • (economists,wage) [inferred]
        • (erasing,wage) [inferred]
        • (erasing,wage,workers) [inferred]

    • WIP - Back to HLA
      • Even so, because inflation in essentials like food, housing and transportation stresses lower-income people more acutely than the rich, it's not clear that those wage increases are well appreciated ...
      • High Level Abstractions:
        • (inflation,wage,lower-income)
        • (inflation,increases,housing)
        • Inferred entity relationships (3)
        • (inflation,lower-income) [inferred]
        • (lower-income,wage) [inferred]
        • (lower-income,wage,workers) [inferred]

    • WIP - Back to HLA
      • At the moment, consumer sentiment surveys are skewing lower than they have in periods that were similar in economic growth and employment. ...
      • High Level Abstractions:
        • (inflation,consumer,sentiment,economic)
        • (inflation,consumer,sentiment,employment)
        • (inflation,sentiment,employment)
        • (inflation,consumer,growth)
        • (inflation,consumer,sentiment,skewing)
        • (inflation,consumer,skewing)
        • (inflation,sentiment,skewing)
        • (inflation,sentiment,growth)
        • (inflation,consumer,employment)
        • (inflation,consumer,sentiment,growth)
        • (inflation,sentiment,economic)
        • Inferred entity relationships (15)
        • (consumer,inflation,negative) [inferred]
        • (consumer,inflation,unemployment) [inferred]
        • (consumer,growth,inflation,sentiment) [inferred]
        • (consumer,inflation,model) [inferred]
        • (consumer,inflation,sentiment,skewing) [inferred]
        • (employment,inflation,sentiment) [inferred]
        • (consumer,inflation,skewing) [inferred]
        • (consumer,growth,inflation) [inferred]
        • (consumer,employment,inflation,sentiment) [inferred]
        • (consumer,employment,inflation) [inferred]
        • (growth,inflation,sentiment) [inferred]
        • (economic,inflation,sentiment) [inferred]
        • (consumer,inflation,model,sentiment) [inferred]
        • (inflation,sentiment,skewing) [inferred]
        • (consumer,inflation,negative,sentiment) [inferred]

    • WIP - Back to HLA
      • Looking back at past periods of high inflation, they have done some rough calculations that show that the negative effects of inflation on consumer sentiment erode 50 percent each year. ...
      • High Level Abstractions:
        • (inflation,consumer,negative)
        • (inflation,sentiment,negative)
        • (inflation,consumer,sentiment,negative)
        • Inferred entity relationships (8)
        • (consumer,inflation,negative) [inferred]
        • (consumer,inflation,unemployment) [inferred]
        • (inflation,negative,sentiment) [inferred]
        • (consumer,inflation,model) [inferred]
        • (consumer,inflation,model,sentiment) [inferred]
        • (consumer,inflation,sentiment,skewing) [inferred]
        • (consumer,inflation,skewing) [inferred]
        • (consumer,inflation,negative,sentiment) [inferred]

    • WIP - Back to HLA
      • According to his model - and, crucially, assuming the rate of inflation drops immediately to the Fed's forecast of 2.5 percent annually - there would be an eight percentage point increase in consumer sentiment by November ...
      • High Level Abstractions:
        • (inflation,consumer,sentiment,forecast)
        • (inflation,consumer,model)
        • (inflation,consumer,sentiment,fed)
        • (inflation,consumer,forecast)
        • (inflation,sentiment,forecast)
        • (inflation,consumer,sentiment,model)
        • (inflation,consumer,fed)
        • (inflation,sentiment,fed)
        • (inflation,sentiment,model)
        • Inferred entity relationships (15)
        • (consumer,inflation,negative) [inferred]
        • (consumer,inflation,unemployment) [inferred]
        • (consumer,fed,inflation,sentiment) [inferred]
        • (forecast,inflation,sentiment) [inferred]
        • (consumer,fed,inflation) [inferred]
        • (consumer,forecast,inflation) [inferred]
        • (consumer,inflation,sentiment,skewing) [inferred]
        • (consumer,inflation,model) [inferred]
        • (consumer,inflation,skewing) [inferred]
        • (inflation,model,sentiment) [inferred]
        • (consumer,forecast,inflation,sentiment) [inferred]
        • (fed,inflation,sentiment) [inferred]
        • (consumer,inflation,model,sentiment) [inferred]
        • (inflation,sentiment,skewing) [inferred]
        • (consumer,inflation,negative,sentiment) [inferred]

    • WIP - Back to HLA
      • According to his model - and, crucially, assuming the rate of inflation drops immediately to the Fed's forecast of 2.5 percent annually - there would be an eight percentage point increase in consumer sentiment by November. ...
      • High Level Abstractions:
        • (inflation,consumer,increase)
        • (inflation,consumer,sentiment,increase)
        • (inflation,sentiment,increase)
        • Inferred entity relationships (4)
        • (increase,inflation,sentiment) [inferred]
        • (consumer,increase,inflation) [inferred]
        • (consumer,increase,inflation,sentiment) [inferred]
        • (inflation,sentiment,skewing) [inferred]

    • WIP - Back to HLA
      • They have depressed consumer confidence, despite a growing economy and low unemployment.. . But exactly how inflation is hurting, helping and confusing people is hard to understand ...
      • High Level Abstractions:
        • (inflation,consumer,unemployment)
        • Inferred entity relationships (6)
        • (consumer,inflation,negative) [inferred]
        • (consumer,inflation,model) [inferred]
        • (consumer,inflation,model,sentiment) [inferred]
        • (consumer,inflation,sentiment,skewing) [inferred]
        • (consumer,inflation,skewing) [inferred]
        • (consumer,inflation,negative,sentiment) [inferred]

    • WIP - Back to HLA
      • They have depressed consumer confidence, despite a growing economy and low unemployment.. . But exactly how inflation is hurting, helping and confusing people is hard to understand. ...
      • High Level Abstractions:
        • (inflation,consumer,hard)

    • WIP - Back to HLA
      • Yet unless you're constantly pulling out a calculator, you're unlikely to know whether your wages are keeping up with inflation, whether the stock market has actually hit a real peak or whether a lottery jackpot is as sweet as the marketers claim ...
      • High Level Abstractions:
        • (inflation,market)
        • (inflation,stock,market)
        • Inferred entity relationships (2)
        • (inflation,market,stock) [inferred]
        • (inflation,market) [inferred]

    • WIP - Back to HLA
      • I relied on an analysis by Robert Shiller, a Yale economist, who has long used inflation-adjusted data to pierce the veil of money illusion. Because of setbacks in the past few weeks - high inflation and a faltering stock market - the market has fallen below peak levels in real terms. ...
      • High Level Abstractions:
        • (inflation,stock,market)
        • Inferred entity relationships (1)
        • (inflation,market) [inferred]

    • WIP - Back to HLA
      • When used by skilled marketers, money illusion can make unwary humans so excited that they will pour hard-earned money into chimeras, like lotteries and frothy stock markets ...
      • High Level Abstractions:
        • (inflation,stock,unwary)
        • (inflation,stock,humans)
        • Inferred entity relationships (1)
        • (inflation,stock,unwary) [inferred]

    • WIP - Back to HLA
      • I relied on an analysis by Robert Shiller, a Yale economist, who has long used inflation-adjusted data to pierce the veil of money illusion. Because of setbacks in the past few weeks - high inflation and a faltering stock market - the market has fallen below peak levels in real terms ...
      • High Level Abstractions:
        • (inflation,stock,pierce)
        • (inflation,stock,inflation-adjusted)
        • (inflation,stock,economist)
        • Inferred entity relationships (1)
        • (inflation,stock,unwary) [inferred]

    • WIP - Back to HLA
      • When used by skilled marketers, money illusion can make unwary humans so excited that they will pour hard-earned money into chimeras, like lotteries and frothy stock markets. ...
      • High Level Abstractions:
        • (inflation,stock,hard-earned)
        • (inflation,stock,frothy)
        • (inflation,stock,markets)
        • (inflation,stock,lotteries)
        • (inflation,stock,chimeras)
        • Inferred entity relationships (1)
        • (inflation,stock,unwary) [inferred]

    • WIP - Back to HLA
      • . Even so, because inflation in essentials like food, housing and transportation stresses lower-income people more acutely than the rich, it's not clear that those wage increases are well appreciated ...
      • High Level Abstractions:
        • (inflation,lower-income)
        • Inferred entity relationships (1)
        • (inflation,lower-income,wage) [inferred]

    • WIP - Back to HLA
      • Steep housing costs are embedded in government indexes and account for a substantial part of recent official inflation increases. ...
      • High Level Abstractions:
        • (inflation,increases,costs)
        • (inflation,housing)
        • (inflation,increases,housing)

    • WIP - Back to HLA
      • Steep housing costs are embedded in government indexes and account for a substantial part of recent official inflation increases.. . Wages are another nagging problem ...
      • High Level Abstractions:
        • (inflation,government)
        • (inflation,increases,government)

    • WIP - Back to HLA
      • Wages are another nagging problem. Numerous surveys show that many working people believe their wages haven't kept up with the cost of living. ...
      • High Level Abstractions:
        • (inflation,increases,cost)

    • WIP - Back to HLA
      • Meticulous research by the economists David Autor, Annie McGraw and Arindrajit Dube shows that for lower-income people, real wages have risen, erasing nearly 40 percent of the longstanding wage gap between richer and poorer workers in the United States.. . Even so, because inflation in essentials like food, housing and transportation stresses lower-income people more acutely than the rich, it's not clear that those wage increases are well appreciated ...
      • High Level Abstractions:
        • (inflation,workers)
        • (inflation,housing)

    • WIP - Back to HLA
      • In fact, research by Stefanie Stantcheva, a scholar at Harvard and the Brookings Institution, building on earlier work by Professor Shiller, finds that it's not.. . People tend to blame the government for the pain of inflation, and to give themselves credit for raises they have received - even while feeling angry that those raises don't seem to be keeping up with the cost of living ...
      • High Level Abstractions:
        • (inflation,government)

    • WIP - Back to HLA
      • People tend to blame the government for the pain of inflation, and to give themselves credit for raises they have received - even while feeling angry that those raises don't seem to be keeping up with the cost of living ...
      • High Level Abstractions:
        • (inflation,cost,credit)
        • (inflation,cost,government)
        • Inferred entity relationships (1)
        • (government,inflation) [inferred]

    • WIP - Back to HLA
      • (They used what economists call nominal prices, not real ones.) On an inflation-adjusted basis, the stock market only in March approached a new peak for the first time in years ...
      • High Level Abstractions:
        • (market,inflation-adjusted)
        • (market,economists)
        • (market,stock,economists)
        • (market,stock,inflation-adjusted)
        • Inferred entity relationships (4)
        • (economists,market) [inferred]
        • (economists,market,stock) [inferred]
        • (inflation-adjusted,market,stock) [inferred]
        • (inflation-adjusted,market) [inferred]

    • WIP - Back to HLA
      • (They used what economists call nominal prices, not real ones.) On an inflation-adjusted basis, the stock market only in March approached a new peak for the first time in years. I relied on an analysis by Robert Shiller, a Yale economist, who has long used inflation-adjusted data to pierce the veil of money illusion ...
      • High Level Abstractions:
        • (market,stock,robert_shiller)
        • (market,stock,analysis)
        • (market,robert_shiller)
        • (market,analysis)
        • Inferred entity relationships (4)
        • (analysis,market,stock) [inferred]
        • (analysis,market) [inferred]
        • (market,robert_shiller) [inferred]
        • (market,robert_shiller,stock) [inferred]

    • WIP - Back to HLA
      • "Money Illusion," a classic 1997 paper by the economists Eldar Shafir and Peter Diamond and the psychologist Amos Tversky, found that in periods of high inflation, employers can get away with giving workers raises that amount to substantial wage cuts on an inflation-adjusted basis. ...
      • High Level Abstractions:
        • (wage,economists)
        • (wage,employers)
        • (wage,workers,psychologist)
        • (wage,workers,eldar_shafir)
        • (wage,workers,economists)
        • (wage,psychologist)
        • (wage,workers,peter_diamond)
        • (wage,peter_diamond)
        • (wage,workers,employers)
        • Inferred entity relationships (8)
        • (peter_diamond,wage) [inferred]
        • (economists,wage) [inferred]
        • (psychologist,wage) [inferred]
        • (peter_diamond,wage,workers) [inferred]
        • (employers,wage,workers) [inferred]
        • (psychologist,wage,workers) [inferred]
        • (employers,wage) [inferred]
        • (economists,wage,workers) [inferred]

    • WIP - Back to HLA
      • "Money Illusion," a classic 1997 paper by the economists Eldar Shafir and Peter Diamond and the psychologist Amos Tversky, found that in periods of high inflation, employers can get away with giving workers raises that amount to substantial wage cuts on an inflation-adjusted basis.. . Say inflation is rising at a 4 percent annual rate, and you get a 2 percent raise ...
      • High Level Abstractions:
        • (wage,workers,inflation-adjusted)
        • (wage,inflation-adjusted)
        • Inferred entity relationships (2)
        • (inflation-adjusted,wage,workers) [inferred]
        • (inflation-adjusted,wage) [inferred]

    • WIP - Back to HLA
      • The official data on average wages is volatile and difficult to interpret.. . Meticulous research by the economists David Autor, Annie McGraw and Arindrajit Dube shows that for lower-income people, real wages have risen, erasing nearly 40 percent of the longstanding wage gap between richer and poorer workers in the United States ...
      • High Level Abstractions:
        • (wage,economists)
        • Inferred entity relationships (1)
        • (economists,wage,workers) [inferred]

    • WIP - Back to HLA
      • Whether they actually have kept up is debatable. The official data on average wages is volatile and difficult to interpret.. . Meticulous research by the economists David Autor, Annie McGraw and Arindrajit Dube shows that for lower-income people, real wages have risen, erasing nearly 40 percent of the longstanding wage gap between richer and poorer workers in the United States ...
      • High Level Abstractions:
        • (wage,meticulous)

    • WIP - Back to HLA
      • Even so, because inflation in essentials like food, housing and transportation stresses lower-income people more acutely than the rich, it's not clear that those wage increases are well appreciated. ...
      • High Level Abstractions:
        • (wage,lower-income)
        • Inferred entity relationships (1)
        • (lower-income,wage,workers) [inferred]