The Fed and other central banks are entering into a huge money-printing experiment in hopes of keeping the government-spending machine going at full speed forever. The unintended consequences will be highly destructive.
In theory, it is possible to adjust inflation measures to account for the many constant changes in prices resulting from changing demand, quality, and innovations. But it's essentially impossible to execute these adjustments accurately.
It seems that if you're mildly against the drug war and sky-high taxes, you're a "libertarian" to many left-wing commentators—even if you also support programs like "universal basic income" and renewable energy boondoggles.