What happened to all of the doom and gloom economic threads?

[RobDownSouth]

Tell me what happened to the United States between 1792 and 1913 when we had a gold standard. Then shut the fuck up.

For starters....

• Bank panics
• Deflationary periods, causing massive agriculture failure
• Periodic monetary crises
• Silver runs by China
• Large foreign currency deficits

History isn't just the revisionism peddled by the likes of Glenn Beck.

 

[RobDownSouth]

You have no clue.

Anytime you want to debate the gold standard, I'm game, motherfucker. Hell, even your bro Ishmael recognizes it as a lost cause.

 

[mercury14]

Tell me what happened to the United States between 1792 and 1913 when we had a gold standard. Then shut the fuck up.

We struggled to attract international investment and had an economy that rewarded saving over spending, and punished those who took out loans?

And had an economy especially vulnerable to speculators?

The economy was exceptionally vulnerable to deflation?

 

[unregistered]

 

[unregistered]

 

[RobDownSouth]

I never said it was going to happen. I said it might happen, and you failed to answer my question.

Look up at post 9701 and apologize like a man.

 

[RobDownSouth]

Learn what the definition of inflation is before posting, There was no inflation while we had the gold standard, except for Lincoln's greenback printing during the Civil War.

Re-read his post, motherfucker. Did he mention inflation?

Now make Sergeant Major Daddy proud up in heaven and apologize for putting words in his mouth.

 

[mercury14]

Learn what the definition of inflation is before posting, There was no inflation while we had the gold standard, except for Lincoln's greenback printing during the Civil War.

Wait. You think a gold standard means no inflation?

God DAMN, where do you get this shit? Are you making it up or getting your info from some rightie source who made it up?

 

[RightField]

Bloomburg news was just saying the other day that the debt ceiling crisis (100% manufactured by Republicans) had more negative impact on the dollar's value than any other influence.

Nobody gives a shit about cereal though.

Yes, the debt problem was caused by the Republicans and their excessive spending over the past 3 years adding more that $5T in new debt with annual overruns of approximately $1.5T. When the Republicans wanted to spend more without accountability the Democrats said "No, nothing that you've done so far has had any positive effect and you're not going to throw more good money after bad".....That's the ticket! And that's how the downgrade was manufactured by the Republicans.

 

[mercury14]

Yes, the debt problem was caused by the Republicans and their excessive spending over the past 3 years adding more that $5T in new debt with annual overruns of approximately $1.5T. When the Republicans wanted to spend more without accountability the Democrats said "No, nothing that you've done so far has had any positive effect and you're not going to throw more good money after bad".....That's the ticket! And that's how the downgrade was manufactured by the Republicans.

No I said the debt ceiling crisis. More reading comprehension please.

 

[IrezumiKiss]

Re-read his post, motherfucker. Did he mention inflation?

Now make Sergeant Major Daddy proud up in heaven and apologize for putting words in his mouth.

Wait. You think a gold standard means no inflation?

God DAMN, where do you get this shit? Are you making it up or getting your info from some rightie source who made it up?

No I said the debt ceiling crisis. More reading comprehension please.

http://dangerousandbeautiful.com/blog/wp-content/uploads/2010/04/michael-jackson-thriller-eating-popcorn-animated.gif

 

[mercury14]

Vette showed up to a gun fight with a gold-plated butter knife.

 

[RightField]

No I said the debt ceiling crisis. More reading comprehension please.

You were trying to imply that our economic problems were due to the fact that the Republicans didn't just bendover and accept the depredations of the democrats and let them spend whatever they want without regard or concern for the mounting debt. Why do you push such ridiculous positions? Clearly you can't be that foolish, is it just a game to you?

 

[mercury14]

You were trying to imply that our economic problems were due to the fact that the Republicans didn't just bendover and accept the depredations of the democrats and let them spend whatever they want without regard or concern for the mounting debt. Why do you push such ridiculous positions? Clearly you can't be that foolish, is it just a game to you?

No that wasn't what I said or implied at all. More reading comprehension please.

 

[NeverEndingMe]

No I said the debt ceiling crisis. More reading comprehension please.

the issue is debt. we don't need more

 

[mercury14]

the issue is debt. we don't need more

Is that why you want your home state of Florida to go deeper into debt by drug testing its citizens who aren't even suspected of using drugs?

 

[Disgustipated]

Four or five bucks for a box of cereal means inflation is low.

I just paid $1.49 for a box of Kellog's Corn Flakes, clown.

 

[mercury14]

I just paid $1.49 for a box of Kellog's Corn Flakes, clown.

Yeah but when Vette was a kid that box cost 25 cents.

Shop at Aldi and you can buy cereal for a dollar.

 

[Disgustipated]

Yeah but when Vette was a kid that box cost 25 cents.

Shop at Aldi and you can buy cereal for a dollar.

True. Mind you, it was a special deal but it was from a major grocery store chain and not Wal-Mart.

 

[koalabear]

Vette showed up to a gun fight with a gold-plated butter knife.

and no doubt you ate the knife to get the leftover butter on it, MORON.

 

[busybody..]

I see the AP didnt consult NIGGER POON before writing this, DID THEY?


Inflation squeezing consumers in weak economy

Food, gas, rent and clothing prices all rose in August; unemployment claims hit 3-month high




Christopher S. Rugaber, AP Economics Writer, On Thursday September 15, 2011, 4:57 pm EDT

WASHINGTON (AP) -- Consumers are spending more to fill their tanks, feed their families and pay the rent. At the same time, the number of people applying for unemployment benefits has reached the highest level in three months.

The latest government data show that inflationary pressures and a depressed job market are hurting an economy that barely grew in the first half of the year.

Higher prices could also keep the Federal Reserve from taking major steps to stimulate the growth next week when policymakers meet.

When prices rise, consumers cut back on big purchases, such as appliances, furniture and vacations. Mixed reports on manufacturing Thursday and flat retail sales in August suggest that may already be happening.

A decline in demand forces businesses to put off hiring and even lay off workers. In August, the economy added zero net jobs. Unemployment benefit applications have increased in three of the past four weeks.

"Unless spirits improve soon, businesses will ramp up layoffs, consumers will pull back, and the economy will fall back into recession," said Mark Zandi, chief economist at Moody's Analytics.

Consumer prices rose 0.4 percent in August, according to the Labor Department's Consumer Price Index. Prices for food, energy, rent, and clothing all increased. Excluding volatile food and energy costs, core prices increased 0.2 percent.

Some inflation can be healthy for the economy because it encourages people to spend and invest rather than sitting on their cash. More spending drives corporate growth, which makes businesses more likely to hire people.

For the 12 months that ended in August, core prices surged 2 percent. That's the biggest year-over-year increase in nearly three years, and it's at the high end of the Federal Reserve's informal inflation target.

Rising inflation is a key reason Macroeconomic Advisors lowered its growth estimate for the July-September quarter from 1.9 percent to 1.6 percent. The economic consulting firm said higher prices will reduce consumer spending.

Economists don't expect prices to rise much further, mostly because employers aren't hiring much or handing out big raises. Still, the spike in prices over the past year has cut into consumers' pay and limited their purchasing power.

"In an environment where you're now looking at zero job growth, it will be difficult to have much success passing on any additional costs," said Tom Porcelli, chief U.S. economist at RBC Capital Markets.

Unemployment benefit applications rose to 428,000 last week, the Labor Department said in a separate report. And the four-week average, a less volatile measure, rose for the fourth straight week to 419,500, the highest level in eight weeks.

Applications need to fall below 375,000 to indicate that hiring is increasing enough to lower the unemployment rate. They haven't been that low since February.

The unemployment rate stayed at 9.1 percent for the second straight month in August. It has been above 9 percent for all but two months since May 2009 -- one month before the recession officially ended.

U.S. factories have helped drive growth over the past two years. But manufacturing began to falter this spring, slowed by supply chain disruptions caused by the Japan crisis and diminished consumer demand.

Overall factory output rose in August for the second straight month, according to a report from the Federal Reserve. The gain was driven by strong auto production. Carmakers have rebounded over the past two months, mostly because supply chains are flowing more freely.

Many economists took that as a positive sign in the otherwise gloomy data.

Still, two regional surveys from Federal Reserve banks showed manufacturing contracted in the Northeast and Mid-Atlantic this month.

"The common thread among all of today's data is one of weakness," Porcelli said.

The Fed will discuss additional stimulus measures at its two-day meeting next week. Most economists expect it will announce a plan to shift money out of short-term securities and into longer-term Treasury bonds. The move could lower rates on mortgages, auto loans and other consumer and business loans.

But some Fed officials are worried the Fed's policies could push inflation higher. Last month, three board members opposed the Fed's decision to keep interest rates near zero for the next two years, unless economic conditions changed dramatically. It was the first time as many members dissented from a decision in almost 20 years.

Fed Chairman Ben Bernanke acknowledged last week that rising commodity prices had pushed up inflation this year. But he said it was likely to moderate in coming months.

There are some signs that core inflation, which the Fed pays close attention to, could level off soon. Cotton prices have come down from the spring, and clothing costs are expected to follow. New-car prices were unchanged for the second straight month in August, after rising earlier this year.

"The combination of disappointing growth but rising core inflation puts the Fed in a difficult situation," said Michelle Meyer, an economist at Bank of America Merrill Lynch.

AP Business Writer Daniel Wagner contributed to this report.

 

[RobDownSouth]

and no doubt you ate the knife to get the leftover butter on it, MORON.

Awwww, look at Lit's premier beta male stickin' up for his "bro".

How cute!

 

[unregistered]

 

[NeverEndingMe]

Vette showed up to a gun fight with a gold-plated butter knife.

why is everything about you so violent? have you talked to a psychologist about these issues?

 

[unregistered]