Inflation deniers, beware

[off2bed]

Denial can mean a more sudden spike in inflation...

http://www.bloomberg.com/news/2012-...ittle-inflation-capsize-u-s-amity-shlaes.html

 

[4est_4est_Gump]

I already did that in the appropriate thread along with the day's lesson on economic model forecasting and the CBO's past and current Health Care projections...

 

[trysail]

The government (in the form of Ben Bernanke's Federal Reserve) is suppressing interest rates. How much are you being paid on your savings?

Meanwhile, inflation is rolling along at 3-odd percent. Government is— of course— effectively stealing from savers. A penny saved isn't worth a penny.



As can be seen in this chart, a 1982-84 dollar is actually worth $0.439 ( 100/227.63 ).

Index of Inflation (CPI):

http://data.bls.gov/generated_files/graphics/CUUR0000SA0_117244_1331902477408.gif​

 

[JohnnySavage]

The government (in the form of Ben Bernanke's Federal Reserve) is suppressing interest rates. How much are you being paid on your savings?

Meanwhile, inflation is rolling along at 3-odd percent. Government is— of course— effectively stealing from savers. A penny saved isn't worth a penny.

Why should the Fed sell notes at 3% when there is plenty of demand at 0.25%?

 

[Ishmael]

I loved a report I heard this AM. "Inflation is less than 2%, as long as you don't count gas and food."

Ishmael

 

[unregistered]

 

[JohnnySavage]

I've got one car at 0 and my truck at .9. I tell you, there is some good money out there.

With respect to consumer rates... miss a payment and see what happens to that rate!

The real crime here is that the banks borrow at less then 1%, then loan it to the consumer via credit cards at 18%.

I hate banks, in case you were wondering.

 

[JohnnySavage]

I hate doctors too.

 

[trysail]

Why should the Fed sell notes at 3% when there is plenty of demand at 0.25%?

"There's a sucker born every minute."

-P. T. Barnum​

 

[RobDownSouth]

I loved a report I heard this AM. "Inflation is less than 2%, as long as you don't count gas and food."

Ishmael

Ishmael, I realize you most likely never attended an accredited college, but if you had, you might have learned in Economics 101 about the two generally accepted measures of inflation:

Core inflation, which factors out highly volatile items such as oil and food to get a true measure of monetary inflation, and

Consumer Price Inflation, which measures the hit on your wallet (or man-purse, in your case.

It sounds like you heard about the former in the news, and are smugly dismissing it because it's not the latter.

*pats Ish on his greasy head*
That's okay, though...you tried.

 

[off2bed]

Savings?

 

[trysail]

With respect to consumer rates... miss a payment and see what happens to that rate!

The real crime here is that the banks borrow at less then 1%, then loan it to the consumer via credit cards at 18%.

I hate banks, in case you were wondering.

You should try it sometime.

Any idiot can lend money; the hard part is getting it back.

Aside from the airline and retail industries, it may be one of the world's worst businesses. The fucking dumbass politicians have all but wrecked it.

 

[JohnnySavage]

Savings?

That's where dummies give their money to the bank for .5% interest, so the banks can loan back to them for 10%

 

[unregistered]

 

[trysail]

Core inflation, which factors out highly volatile items such as oil and food to get a true measure of monetary inflation, and

Consumer Price Inflation, which measures the hit on your wallet (or man-purse, in your case.

It sounds like you heard about the former in the news, and are smugly dismissing it because it's not the latter.

Jeeeezzzzuzzzzzzzzz H. Fucking Christ. This is this biggest crock of shit propaganda nonsense that's ever come down the pike.


I suppose you don't heat, drive or eat. Yeah, riiiiiiiight.

 

[4est_4est_Gump]

I loved a report I heard this AM. "Inflation is less than 2%, as long as you don't count gas and food."

Ishmael

Ishmael, I realize you most likely never attended an accredited college, but if you had, you might have learned in Economics 101 about the two generally accepted measures of inflation:

Core inflation, which factors out highly volatile items such as oil and food to get a true measure of monetary inflation, and

Consumer Price Inflation, which measures the hit on your wallet (or man-purse, in your case.

It sounds like you heard about the former in the news, and are smugly dismissing it because it's not the latter.

*pats Ish on his greasy head*
That's okay, though...you tried.

"Bernanke talks about prices in one area - energy, for example -- as different from those in the rest of the economy. The Germans, in their denial, thought their problem was limited to exchange rates, and that their domestic economy had hope. Risibly, Chancellor Joseph Wirth tried to tie down prices by regulating foreign currency. The equivalent, and equivalently risible, move today is the Ralph Nader effort to get the administration to push down oil prices.

"The reason a little inflation is not all right, and the reason inflation comes suddenly, is expectations.

"The phrase “perception is reality” is overused generally. But perception can be reality in monetary policy. The bond market doesn’t act merely on what it sees. It acts on what it expects of the Fed or the government. And our own Fed has let us know it’s capable of just about everything, which includes inflationary monetary policy. Disillusionment can come as fast as a gust, but building faith that the government won’t inflate again is like building a new sailboat, a project of years. Another way to put this is how the central banker Henry Wallich did. Inflation is like a banana, Jerry Jordan of the Cleveland Fed quoted him as saying. Once you see one brown spot, it’s too late."

 

[off2bed]

Jeeeezzzzuzzzzzzzzz H. Fucking Christ. This is this biggest crock of shit propaganda nonsense that's ever come down the pike.


I suppose you don't heat, drive or eat. Yeah, riiiiiiiight.

Like the article says, denial is delusional.

 

[miles]

Jeeeezzzzuzzzzzzzzz H. Fucking Christ. This is this biggest crock of shit propaganda nonsense that's ever come down the pike.


I suppose you don't heat, drive or eat. Yeah, riiiiiiiight.

I'm glad we didn't got to Throb's "accredited college."

 

[RobDownSouth]

I'm glad we didn't got to Throb's "accredited college."

Based on your lack of comprehension of the English language, I seriously doubt your SAT scores were high enough to get into college.

YCSDIAF.

 

[miles]

Even Slate Magazine doesn't fall for that bullshit:

The Great Inflation Fraud
Why does the government pretend prices aren't rising?

By Daniel Gross|Posted Saturday, Sept. 29, 2007

 

[4est_4est_Gump]

The guys who argue most vociferously that inflation is not happening do not do their own shopping...




Of this, I am convinced.

 

[RobDownSouth]

Even Slate Magazine doesn't fall for that bullshit:

The Great Inflation Fraud
Why does the government pretend prices aren't rising?

By Daniel Gross|Posted Saturday, Sept. 29, 2007

Coz five year old articles that predate the recession are sooooo relevant nowadays, right Miles Ben Zonah?

YCSDIAF.

 

[KingOrfeo]

Jeeeezzzzuzzzzzzzzz H. Fucking Christ. This is this biggest crock of shit propaganda nonsense that's ever come down the pike.

A countercite would be better here. You happen to know how economists actually do classify/measure inflation, and that it's something different from what Rob said, please tell us.