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And Now For My Next Magic Trick… NO Inflation! And n... - 1/17/2011 6:31:52 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		And Now For My Next Magic Trick… NO Inflation! And now for my next trick… I will now show you how the government steals our entire life’s work through the manipulation of the inflation numbers. These statistics/lies, may seem like “little white lies,” but they are at the core of the massive global corruption.
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RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/17/2011 7:26:13 PM   
willbeurdaddy


Posts: 11894
Joined: 4/8/2006
Status: offline 		The infantile level of thinking in this link can be shown in an 11 word quote.

"The more dollars are in circulation, the less they are worth."

_____________________________

Hear the lark
and harken
to the barking of the dogfox,
gone to ground.

(in reply to pahunkboy)
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RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/17/2011 7:34:27 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline
quote:

ORIGINAL: willbeurdaddy

The infantile level of thinking in this link can be shown in an 11 word quote.

"The more dollars are in circulation, the less they are worth."


You are a comedian right?   LOL

(in reply to willbeurdaddy)
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RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/17/2011 7:35:46 PM   
TheHeretic


Posts: 19100
Joined: 3/25/2007
From: California, USA
Status: offline 		Nope. No inflation to be seen here. Prices are right where they were. Of course, the 5 lb bag of sugar now weighs 4 lbs, a half gallon of ice cream is now 1.5 quarts, and the miserable bastards have shrunk my hard cider from a 12 oz. bottle to an 11.2. But the prices aren't going up.

< Message edited by TheHeretic -- 1/17/2011 7:39:12 PM >

_____________________________

If you lose one sense, your other senses are enhanced.
That's why people with no sense of humor have such an inflated sense of self-importance.


(in reply to pahunkboy)
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RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/17/2011 7:36:36 PM   
willbeurdaddy


Posts: 11894
Joined: 4/8/2006
Status: offline
quote:

ORIGINAL: pahunkboy

quote:

ORIGINAL: willbeurdaddy

The infantile level of thinking in this link can be shown in an 11 word quote.

"The more dollars are in circulation, the less they are worth."


You are a comedian right?   LOL



No, youre an economic infant if you think that the money in circulation is the sole determinant or cause of inflation.

_____________________________

Hear the lark
and harken
to the barking of the dogfox,
gone to ground.

(in reply to pahunkboy)
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RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/17/2011 7:38:56 PM   
servantforuse


Posts: 6363
Joined: 3/8/2006
Status: offline 		I think PA is becoming a conservative.

(in reply to willbeurdaddy)
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RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/17/2011 7:39:13 PM   
CarpeComa


Posts: 194
Joined: 5/12/2010
Status: offline
quote:

ORIGINAL: willbeurdaddy

The infantile level of thinking in this link can be shown in an 11 word quote.

"The more dollars are in circulation, the less they are worth."



All other things held constant, this statement is correct. The article is largely bunk, but this was a poor choice for 'infantile thinking'. A better choice for poor thought processes would be this;

quote:

Gas right now is at about $3.00 a gallon and as of last September, the value of the 1964 90% silver quarter was at about $3.00.  Today, that same quarter is worth about $5, which tells me that we are going to have $5 gas this year.


< Message edited by CarpeComa -- 1/17/2011 7:44:43 PM >

(in reply to willbeurdaddy)
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RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/17/2011 7:41:54 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		Willie wonka and the candy factory made a world where everything was chocolate.

Maybe we can get him.

(in reply to CarpeComa)
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RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/17/2011 8:03:07 PM   
Musicmystery


Posts: 30259
Joined: 3/14/2005
Status: offline
quote:

All other things held constant, this statement is correct.


That's a silly statement itself. All other things held constant eliminates all of the context.

MV = PQ, to keep things simple. The money supply simply isn't the sole determinant of inflation.

(in reply to CarpeComa)
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RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/17/2011 8:27:37 PM   
willbeurdaddy


Posts: 11894
Joined: 4/8/2006
Status: offline
quote:

ORIGINAL: CarpeComa

quote:

ORIGINAL: willbeurdaddy

The infantile level of thinking in this link can be shown in an 11 word quote.

"The more dollars are in circulation, the less they are worth."



All other things held constant, this statement is correct. The article is largely bunk, but this was a poor choice for 'infantile thinking'. A better choice for poor thought processes would be this;

quote:

Gas right now is at about $3.00 a gallon and as of last September, the value of the 1964 90% silver quarter was at about $3.00.  Today, that same quarter is worth about $5, which tells me that we are going to have $5 gas this year.




We agree on all counts! (Except that in reality all other things are never constant. Even just announcing an increase in money supply has effects on "other" things).

_____________________________

Hear the lark
and harken
to the barking of the dogfox,
gone to ground.

(in reply to CarpeComa)
Profile   Post #: 10
RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/17/2011 8:37:05 PM   
PyrotheClown


Posts: 1950
Joined: 5/18/2009
Status: offline 		shucks, thought this was gonna be a thread bout the Japanese black face magic show from a while back

(in reply to willbeurdaddy)
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RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/17/2011 8:41:56 PM   
CarpeComa


Posts: 194
Joined: 5/12/2010
Status: offline
quote:

ORIGINAL: Musicmystery

quote:

All other things held constant, this statement is correct.


That's a silly statement itself. All other things held constant eliminates all of the context.

MV = PQ, to keep things simple. The money supply simply isn't the sole determinant of inflation.


Actually, that statement (or, 'all else being equal') is a phrase you will run into a lot with economics. It has to do with the fact that it is very hard to discuss a dynamic and complicated system if you don't lock down most of the variables.

(in reply to Musicmystery)
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RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/17/2011 9:32:02 PM   
willbeurdaddy


Posts: 11894
Joined: 4/8/2006
Status: offline
quote:

ORIGINAL: CarpeComa

quote:

ORIGINAL: Musicmystery

quote:

All other things held constant, this statement is correct.


That's a silly statement itself. All other things held constant eliminates all of the context.

MV = PQ, to keep things simple. The money supply simply isn't the sole determinant of inflation.


Actually, that statement (or, 'all else being equal') is a phrase you will run into a lot with economics. It has to do with the fact that it is very hard to discuss a dynamic and complicated system if you don't lock down most of the variables.



Which is why economic theory is so difficult to apply in the real world, and the biggest problem with the Austrians, who eschew empirical data. It is also why my company's modeling is strictly empirically based. And while the past doesnt necessarily predict the future, it does a helluva lot better than pure theory does. (And economics is less complex than the climate, so you know how impotent those theoretical models are.).

_____________________________

Hear the lark
and harken
to the barking of the dogfox,
gone to ground.

(in reply to CarpeComa)
Profile   Post #: 13
RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/18/2011 6:24:18 AM   
Musicmystery


Posts: 30259
Joined: 3/14/2005
Status: offline
quote:

ORIGINAL: CarpeComa

quote:

ORIGINAL: Musicmystery

quote:

All other things held constant, this statement is correct.


That's a silly statement itself. All other things held constant eliminates all of the context.

MV = PQ, to keep things simple. The money supply simply isn't the sole determinant of inflation.


Actually, that statement (or, 'all else being equal') is a phrase you will run into a lot with economics. It has to do with the fact that it is very hard to discuss a dynamic and complicated system if you don't lock down most of the variables.


And that's why your assessment is simplistic--and inaccurate as a necessary rule.

Honestly, you believe that if the money supply were held strictly constant, price levels would never change?

It IS a factor--but hardly to the exclusion of all else. And again, in the real world, all else isn't constant.

People also don't make decisions on purely economic reasons. Nonpecuniary aspects matter.





< Message edited by Musicmystery -- 1/18/2011 6:30:55 AM >

(in reply to CarpeComa)
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RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/18/2011 7:39:46 AM   
Termyn8or


Posts: 18681
Joined: 11/12/2005
Status: offline 		"Actually, that statement (or, 'all else being equal') is a phrase you will run into a lot with economics. It has to do with the fact that it is very hard to discuss a dynamic and complicated system if you don't lock down most of the variables. "

Agreed. But that doesn't mean anything to CERTAIN PEOPLE who will jump at any chance to pick on Hunky. Pay them no mind when the start with their supposedly "mature" stance of namecalling.

T

< Message edited by Termyn8or -- 1/18/2011 7:40:21 AM >

(in reply to CarpeComa)
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RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/18/2011 7:43:12 AM   
Musicmystery


Posts: 30259
Joined: 3/14/2005
Status: offline 		Given that pahb's "arguments" are all jabs at the people who disagreed with him, I'd say he deserves what he gets.

(in reply to Termyn8or)
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RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/18/2011 7:57:17 AM   
Termyn8or


Posts: 18681
Joined: 11/12/2005
Status: offline 		"Honestly, you believe that if the money supply were held strictly constant, price levels would never change? "

For one I said certain people. You chose to respond.

And in the quote above, which is from you, is an assumption.

Now to be as cool as possible about this, I think "people" should stop reading between the lines and read the lines. Just a hint, to "people". That means everybody. If "people" are going to continue to attack each others' sanity and intelligence in every disagreement this forum will devolve in an online version of the Jerry Springer Show. Doesn't matter who does it, I guess I have on occasion, but I try to avoid it.

T

(in reply to Musicmystery)
Profile   Post #: 17
RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/18/2011 8:12:05 AM   
Musicmystery


Posts: 30259
Joined: 3/14/2005
Status: offline
quote:

For one I said certain people. You chose to respond.


For two, I wasn't responding to you.

Have a nice cup of chamomile.

And yes, the person to whom I was responding quite clearly claimed, "all things constant," that inflation was solely a function of the money supply. It isn't, and reasons why not already provided.

I think he may be misunderstanding Milton Friedman, who did preach that inflation is always a monetary phenomenon, and made a good case for it--but that's NOT the same as saying inflation is always a function of the money supply. MV = PQ.

And coming through a jobless recovery, velocity isn't likely to be constant, while quantity takes time to recovery (first we exhaust existing inventory). Those factors are deflationary.

Where a lot of confusion arises is that inflation measures are broad based, and while they reflect overall levels, they do not accurately reflect individual impact (part of what I raised in the other thread about individual vs. aggregate decisions). For example, I live in the country, my home is paid for, I have most of what I need, and consequently, my main expenditures are gasoline, heating fuel, and produce. Since petroleum prices have risen sharply in the past decade, I feel this increase intensely (even with good fuel efficiency in both my car and home), and had to change my financial planning to reflect it (also a factor in deciding to develop my own orchards and gardens). But that doesn't mean the country is facing 30% inflation (hypothetically, to illustrate), just because I'm hit where my money goes.

At the same time, it does show why farmers are being hit especially hard.

< Message edited by Musicmystery -- 1/18/2011 8:37:07 AM >

(in reply to Termyn8or)
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RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/18/2011 12:18:17 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		It can take 6 months for inflation to show up from the wholesale level to the shelf.

I hope there isn't any-- but I suspect that we are going to get hit hard.

So for now we wait.

(in reply to Musicmystery)
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RE: And Now For My Next Magic Trick… NO Inflation! A... - 1/18/2011 12:20:24 PM   
mnottertail


Posts: 60698
Joined: 11/3/2004
Status: offline
Dude.   You might not have noticed this whilst gnawing on silver, but for the middle and lower classes, inflation has been running rampant for years.

Your two biggest consumables, food and gas have been going up up up since the war in Iraq.  

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30


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