Jason Burack of Wall St for Main St had on first time guest, money manager and financial expert Ed Butowsky. Ed's full extensive and impressive bio can be found here: http://www.edbutowsky.com/.
Ed has 25 years of experience working in the financial industry and he created the Chapwood Inflation Index http://www.chapwoodindex.com/ to better accurately measure inflation in the US compared to the Bureau of Labor Statistics' Consumer Price Index (CPI).
During this 20+ minute interview, Jason asks Ed about the problems with the CPI and why it no longer measures inflation accurately.
Ed talks about all the games with the inflation formula, substitution, hedonics, geometric weighting, and not counting the basic Core items we need to survive like food, etc in the index.
Jason then asks Ed for the methodology how he calculates his Chapwood Inflation Index.
Jason asks Ed if he views the real economy as stuck in a worsening stagflation?
Ed thinks we have entered a new type of stagflation that will get much worse going forward. He says the real economy is bad.
To wrap up the interview, Jason asks Ed about financial education among professional athletes and about why professional athletes go bankrupt despite their very high incomes?
Jason and Ed also discuss about beating inflation with your investments.
