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The video tutorial discusses the issue of asset price inflation and how policy makers and statisticians failed to properly measure it, leading to the financial crisis. Millions of families lost homes in the aftermath due to being misled by the speculative bubble. The Federal Reserve did not change its inflation metric, causing the problem to be missed. The speaker got fed up and planned to write a book called "Fed Up" to address the issue. It is crucial to recognize and address problems instead of ignoring them to avoid repeating the same mistakes.
