doctor the data and BHO looks good

Posted by johnpe1 10 years, 6 months ago to Economics
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the only prices which are dropping are
petroleum-based (credit fracking) and the
huge group of able workers not participating
in the economy represents the subsidence
of the "American Dream" -- Watch Out For
Propaganda in January!

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  • Posted by Robbie53024 10 years, 6 months ago in reply to this comment.
    Not exactly. In 1915 most eggs would have come from relatively small farms with relatively inefficient systems. The improvements in efficiency over the past 100 years have allowed that same dozen eggs to be created (after all, you need to house and feed those chickens), gathered, inspected, packaged, transported, and sold with incredibly better efficiency and speed than they were a hundred years ago. So, that same dozen eggs is actually a lot cheaper in terms of resources than it was a hundred years ago. The improved efficiency is a DEFLATIONARY force, so what you see as the price in 2015 is not merely monetary inflation, it also includes efficiency deflation. And that has not occurred equally across all sectors of society.
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  • Posted by xthinker88 10 years, 6 months ago in reply to this comment.
    It seems to me that the real problem is that even inflation (as it relates to the money supply) is a somewhat notional concept when the money supply is based on fiat. If a gold standard has $33 = 1 oz of gold and you print $40 but only have one oz of gold then you have inflated the money supply. $40 paper/$33 gold = 121%.

    When $1 is worth nothing and backed by nothing, then, essentially, every dollar printed is infinite inflation. $1 paper/ $0 gold.
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  • Posted by xthinker88 10 years, 6 months ago in reply to this comment.
    But only indirectly and imperfectly and with possibly significant time lags. And when money is digital and being pumped into large financial institutions and, in addition, the price measures are being doctored, a pricing index will not provide an accurate reflection of the true inflation of the money supply. at least until the SHTF and the house of cards comes crashing down.
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  • Posted by jsw225 10 years, 6 months ago in reply to this comment.
    Inflation affects the value of money. Since Eggs in 2015 are basically the same thing as Eggs in 1915, you can track inflation by the amount of money it takes to purchase something.
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  • Posted by johnpe1 10 years, 6 months ago in reply to this comment.
    ok; that is right. . my emphasis as a retired person
    is the declining value of my relatively stagnant $$.

    thus:::

    we need a tracking index which follows the
    relative value of the dollar. . I am sure that
    "quantitative easing" is destroying my retirement
    dollars. . and I resent the hell out of it. -- j

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  • Posted by johnpe1 10 years, 6 months ago in reply to this comment.
    if they neglect the prices of food, housing and fuel
    in the calculation of inflation, then other prices may
    not be keeping up -- but food and housing are .....
    and fuel is dropping because of fracking! -- j

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  • Posted by xthinker88 10 years, 6 months ago in reply to this comment.
    And even then it's not inflation but pricing. Inflation has to do with how much money is in the system, not with pricing. I think we are currently in a situation where the Fed has radically increased the money supply and consumer pricing has not kept up.
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  • Posted by johnpe1 10 years, 6 months ago in reply to this comment.
    yes, and the relative increase in the supply of $$
    devalues those in your account/pocket ! -- j

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  • Posted by johnpe1 10 years, 6 months ago in reply to this comment.
    yes. . we established a tradition with Joe Wilson's
    "You Lie!" comment -- and the most recent $100
    recipient was Joni Ernst, senator-elect from Iowa,
    for her "Make 'em squeal" ad. -- j

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  • Posted by Robbie53024 10 years, 6 months ago in reply to this comment.
    Well, truth be told, it's VJ who lies - O merely mouths whatever she tells him to say. I don't think he's bright enough to fashion his own lies. Just look at any time he goes "off-script."
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  • Posted by Robbie53024 10 years, 6 months ago in reply to this comment.
    Unfortunately, it's in the constitution. I guess the precise wording is something like "from time to time" and doesn't actually specify that he do so in person in front of the congress. He'd do so independently, though, and the fawning press would make a spectacle of it in any case.
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  • Posted by term2 10 years, 6 months ago
    I dont listen any more to our governments propaganda. All that matters to me is my own condition. Inflation is really expansion of the money supply relative to whatever backing the money has, NOT the change in prices that are an unreliable result of money printing.
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  • Posted by $ blarman 10 years, 6 months ago in reply to this comment.
    I support just walking out on him en masse. Including the Supreme Court. He's frequently targeted them with some of his more tasteless attacks.
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  • Posted by $ allosaur 10 years, 6 months ago in reply to this comment.
    On second thought, I have a gut feeling my personal congressional representatives may think that will make them look undignified.
    But if they did turn their backs, I'd be cheering and laughing my head off.
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  • Posted by plusaf 10 years, 6 months ago in reply to this comment.
    I like that idea... like throwing a surprise party for someone and not having ANY guests there when they are brought to the venue... that would be a historical and hysterical classic!

    The door opens and nobody's there applauding...

    Love it!
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  • Posted by plusaf 10 years, 6 months ago
    One of my posts on that blog...
    plusaf > wiz9999 • 3 minutes ago

    wiz, here's one litmus test... does Williams sell subscriptions to a financial newsletter or does he work for a company that sells such 'subscription wisdom'?

    If the answer is Yes, you can ignore his claims. Like Stansberry, Krugman and all the rest who have predicted about 25 of the last three recessions. :)
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  • Posted by johnpe1 10 years, 6 months ago in reply to this comment.
    yessir , , , with Slick Willie, we had a bumper sticker
    on the TV saying, "He Lies Under Oath" ... and with
    BHO it just says "He Lies." -- j

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  • Posted by Herb7734 10 years, 6 months ago in reply to this comment.
    You're right, of course. However, the lefties in DC think they are illusionists They fool only their devotees, and themselves. Many of us understand what they really are -- liars.
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  • Posted by johnpe1 10 years, 6 months ago in reply to this comment.
    and magicians practice an honorable craft, as
    distinguished from the fraud-slingers in DC. -- j

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  • Posted by Herb7734 10 years, 6 months ago
    I never trust statistics, especially coming out of Washington. What's important to the economy is how Joe Lunchbucket is faring. Those who are employed are finding times tough because prices from the Stock Market to the supermarket are rising quickly, but income is not. The figures out of the regime are smoke, mirrors, and trap doors. Magicians are entertainers not economists.
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