Yes, you guys (gals) know me as Mr. NON gloom and doom, and a regular anti-gold/bull market believer.
Inflation: I do believe this CPI index is worthless. Raodrunner (Brian) is correct. They skew the #'s with the variables included in the index. Taking out and placing back in ones to make it look good. I am one that believes and trust very little on what the media/press and governement reports to us.
Commodities have been EXTREMELY inflationary. This effects everything we buy and do. Oil increase the cost of even packaging goods for sale.
in Michigan, rents are getting cheaper, cars can't be sold (so based on Econ 101 supply and demand, should go down in price, if the car companies can stay afloat by doing so), and maybe food has gone up a bit. (We rarely buy milk). I guess it's important to note, housing is going down and is much more affordable than most states, BUT, part of the problem is many are MOVING... to where the jobs are. No way is Michigan enjoying WAGE increases. Many are in fear of LOSIING their job, if they haven't already. An inflationary sign also.
Real estate in places like Austin have continued to increase - people are moving there vs. leaving.
1977 vs. Today and Inflation and "sacrificing spending":
Interesting note about air conditioning costs in Florida. I wonder how many even HAD air conditioning in the 1970's or earlier, when inflation was so high???
How about the giant SUV's everyone is tooling around in? Yeah, I know the 70's had big cars, but I just came back from Paris France. Most cars were smaller than our TV's!!! I bet they use a tank of gas a year.
Keep in mind you are able to finance your home at (technically) record low interest rates, still. The government is borrowing money for 30 years at 4.84%. That's a steal in my book. 30 years ago, borrowing rates were in the mid to high TEENS!!!! Can you imagine the chaos if that were today??? TODAY you can get a 30-year mortgage at under 7%. A steal again.
1977, you had ONE TV and regular ole phone. Today, you have the fancy Plasma TV along with your other TV's AND a computer to go along with it, DVD player, cable and internet access ($125 a month, if you're lucky), a cell phone along with your regular land-line phone ($125 a month), and have no problem paying $500 a month for a car payment.
And if you don't have the money to get all this, lease or put it on your credit card!!! (hahaha).
I am not an inflation hawk, but when I do see three of my biggest expenses (education, health care, and insurance) go up substantially (high single digits), year after year, I have to question how we measure inflation. I would rather you doubled the price of my eggs and milk and kept the rise in cost of these three items to an increase of only 3%.
Now for the new stuff:
When I went to college in 1983, tuition, room, and board at a top tier private university was about $15,000, all in, or $60,000 for four years. Today, it's just reached $50,000 for one year, and my advisors tell me to expect at least $60,000 for one year when my young children are of college age. That's a quadrupling of cost in one generation.
I am a believer in the US economy, capital markets, etc., but there is considerable inflation in certain areas that do not seem to be measured by reported statistics.
That may be true. But we aren't at 1977 yet imo. I'd say we're closer to 1974-1975. Those were classic stagflationary times, very much what we are experiencing today. But what really needs to be said is what 1982 will look like this time. That's the year things bottomed out in that recession. I don't think we'll have anything as good as 1982 with 25 yrs of monetary and banking abuse to shake out over the next 5-8 years.
My alma mater cost $5K per year for everything. Today it's $50K (10X). That's 40 years of inflationary effects. In that same period our money supply increased by about 13-15X. Too bad the FED hasn't controlled educational costs like they have managed gold over the same period.
That's the year things bottomed out in that recession. I don't think we'll have anything as good as 1982 with 25 yrs of monetary and banking abuse to shake out over the next 5-8 years.
And if you substitute hillary instead of Reagan..............................let's just talk government confiscation of private property, for starters.
Q: Are You Printing Money? Bernanke: Not Literally
Insurance. Thanks to frivilous lawsuits, fraud and throw in some major storm damages (hurricanes). Inflationary because of the risk/cost to insurance companies vs. return to make a profit.
Education: I dont get this one. With the wages of teachers/professors not too pricey, technology (for computers, etc.) not out of reach, and money from lottery tickets. Maybe I am missing something, but WHY DOES EDUCATION INCREASE SO MUCH EACH YEAR??? (U of M's "Big House" stadium is getting a $22 MILLION renovation. OK Sorry that's not part of the education equation!!!!)
Healthcare: We WANT at any cost to live (and are living longer). In 1950, you couldn't get a triple heart bypass to keep you living longer, and you DIDN'T live as long. Expensive medications and surgery, and millions are spent (research, procedures, etc.) to help with keeping someone alive longer than years ago. (In the long run, helping with the rise in insurance premiums).
Solution??? Home school, take the risk and not have any insurance. Radical, but many have no other choice.
Back to gold for a sec. It is simply a COMMODITY that is rising with the other commodities. It seems NOT to have any monetary/inflationary reasoning TODAY.....
i have heard stated that walmart (china) is single handedly holding inflation back with cheap goods made with near slave labor.
also allowing tons of illegal immigrants into our country allows other sectors cheap labor to keep prices down. think picking crops. kids used to get school off and they helped out.
it seems our govt realizes this and will continue down this path as long as it lasts.
<< <i>1977 vs. Today and Inflation and "sacrificing spending":
Interesting note about air conditioning costs in Florida. I wonder how many even HAD air conditioning in the 1970's or earlier, when inflation was so high??? >>
By 1977 most folks had air conditioning down there, even if it was just a window unit rather than central air.
<< <i>How about the giant SUV's everyone is tooling around in? Yeah, I know the 70's had big cars, but I just came back from Paris France. Most cars were smaller than our TV's!!! I bet they use a tank of gas a year. >>
As a starving student in 1977 I had a VW Beetle. Thirty years later I have since changed brands, and the new big German machine gets close to the same MPG as the Beetle. Being a creature of the Autobahn, it seems to get its best milage at 80 mph. Nonetheless I resent the fact that a Prius that costs half as much gets twice the mileage using green technology.
<< <i>Keep in mind you are able to finance your home at (technically) record low interest rates, still. The government is borrowing money for 30 years at 4.84%. That's a steal in my book. 30 years ago, borrowing rates were in the mid to high TEENS!!!! Can you imagine the chaos if that were today??? TODAY you can get a 30-year mortgage at under 7%. A steal again. >>
A few years ago when 30 year rates dropped to 7% everyone ran to refinance thinking that rates would never be that low again. Within a couple of years I had refied at least three times and am now at 4.365% on a 15 year loan.
<< <i>1977, you had ONE TV >>
Actually, as a starving student in 1977 my room mate and I had a Bi-Module Tele-Audio System also known as a HoWO, short for Hear One Watch One. It consisted of two aged TV’s next to each other-- one had a picture but no sound, and one had sound but no picture.
<< <i>Today, you have the fancy Plasma TV along with your other TV's AND a computer to go along with it, DVD player, cable and internet access ($125 a month, if you're lucky), a cell phone along with your regular land-line phone ($125 a month), and have no problem paying $500 a month for a car payment. >>
Ludite that I am, I don’t have a plasma TV.
<< <i>I'll take today vs. 1977 >>
Well the technology is certainly better and cheaper. On the other hand, in 1977 anyone earning $100,000 a year was earning big money. Dom Perignon cost $35 a bottle. A $1 million house looked like a million bucks. A Mercedes cost $15 K. Of course, few people could afford to buy any of those “luxury items” back then. With the new affluence experienced by the Baby Boomers, luxuries have become necessities, and people are going broke on $100,000 a year.
Today, you have the fancy Plasma TV along with your other TV's AND a computer to go along with it, DVD player, cable and internet access ($125 a month, if you're lucky),
Yeah, and today people actually PAY for TiVo to record TV shows. 20 years ago everyone did that for free (after the purchase of a single T-160 VHS tape).
If gold is just a commodity, then explain why it has behaved almost exactly as the inverse of the dollar since 2001. While day to day it may not follow the trend, from yr to yr it certainly does. For such a barbarous relic, the central banks and FED sure go to great lengths to naked sell gold shares all the time as the trading day ends. And if not currency related, why the timed Central Bank sales when it hurts gold the most? As already stated, gold is moving up against most all currencies in the past several years....sounds like money to me.
Removing the costs of homes from the index and replacing it with "rent" hides most of the cost of raw materials from the official inflation rate, since very few new homes are "rented." The RCA TV that sold for $299 in 1987 that was made in Bloomington, Indiana by workers making $11 an hour was produced in 1997 in Mexico by workers making $1.50 an hour and is now made in China by workers making 22 cents an hour. The current TV sells for $149 but since it has better "performance" (until it breaks in a year due to the flimsy construction) it is counted as a 75% price decrease in the CPI (source International Brotherhood of Electrical Workers).
A computer that had a 1000 Mhz processor a few years ago, but now has a 3000 Mhz processor is considered to have fallen in "price" by 2/3.
By using tricks to vastly understate the inflation rate, the US government is able to hold interest rates unfairly low, cheating savers but benefitting debtors--the biggest of which is the US government.
It's all fraudulant accounting that is much worse than anything Enron or Worldcom did.
Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
Hahahaaaa..... all you people taking comfort into the rising stock market make me laugh.
More inflation = less value of your dollar = more money to buy the same thing
Look at the Euro, it came out at 80 cents to the dollar and is now 1.40 to the dollar. THAT IS A 60% DECREASE IN YOUR DOLLAR IN LESS THAN 10 YEARS!!! The dollar is falling against all the major currencies!
The dollar is being purposely BROUGHT DOWN to zero. There is usually a 2-3 year period for people to see the effects of inflation.
So when your dollar has been devalued by over half in the past 10 years (they've more than doubled the money supply in ten years so this is conservative), your stock markets are ALL actually at a major loss. This is not rocket science.
$10,000 in 1997 = $20,000 in 2007
The main thing keeping the dollar trading is that it use to be the currency of trade for the world, for oil. Now after the traitors to America, Greenspan and Bernanke, have openly stated the end of the dollar and that the new currency is the Euro, it's the official end of the dollar starting now.
Now, the forum rate is widely held to be 10%, from what I have read here. I have alerted the folks at the link above to consult with the forum gurus. Gurus. What a funny word.
Quis custodiet ipsos custodes?
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
Hugo and Fidel are too busy screwing up their own countries to take my calls. I'd try calling your pal George W but he is also too busy screwing up our economy to answer the phone.
<< <i>Amazing, when this forum get off coins what ignorance comes out. I'm reffering to you CG. >>
Let me guess another Bush loyalist. Hard to phathom but then again history shows that it is not hard to dupe the masses depsite the reality right in front of their noses. Millions wept in the USSR when Stalin died.
"Please help us keep these boards professional and informative…. And fun." - DW --------------------------------------------------------------------------------------------------------------------------------------- BONGO HURTLES ALONG THE RAIN SODDEN HIGHWAY OF LIFE ON UNDERINFLATED BALD RETREAD TIRES
The CPI has nothing to do with inflation. It is merely a basket of "specially " selected goods with which to compare over time. That basket changes since as it was already stated, substition and quality effects are randomly inserted. The CPI was pushing 20% in the early 80's and the govt said never again would they let that happen. And in 1983 the CPI was cooked for good when equivalent rents replaced the price of homes.
Inflation by definition is the increase in money supply over time. It has basically been averaging 10% since 1996 when the FED first went on a tear. Currently yoy money supply increase (Ie inflation) is 12-14% in the US, 20% in China, over 50% in Russia. The other G8 nations will not take second fiddle to weakening their currencies at a faster rate than the dollar. They are geniuses.
"Inflation" at 1.9 %? Hardly. What is at 1.9% is a funky basket of goods with black box mathematics applied to it. If you believe the CPI is an accurate reflection of price increases then you probably believe the BLS jobs reports each month as well. You know, the same one that says we add 100,000 to 150,000 jobs a month on average. I wonder how many jobs would be added per year if the 1,000,000 jobs guaranteed annually by the Birth/Death model black box were taken away? How about counting the actual number of real jobs, not ghosts from a computer.
And to keep this coin related, $20 Libs in MS64 jumped another 5% in one day from $1525 to $1600. That's 25% in just a few weeks. Someone must want them bad. Anyone have generic $20's in their CU Trading Accounts?
The economy would be doing great if corporate America didn't have to sacrifice so much in support of the war effort. OK, OK, I'll stop kidding around...
I'm sort of chuckling over this current gold move. When the hedge fund credit crunch first hit it was treasuries and dollars that money initially moved into. A few of the anti-gold crowd were quite proud of that......as gold right then and there was not yet a safe haven.
Well, here we are a few weeks later when the real dust has settled. The dollar has tanked, treasuries are neglected, and gold is not so barbarous a relic after all. Attilla, come home hun.
<< <i>I'm sort of chuckling over this current gold move. When the hedge fund credit crunch first hit it was treasuries and dollars that money initially moved into. A few of the anti-gold crowd were quite proud of that......as gold right then and there was not yet a safe haven.
Well, here we are a few weeks later when the real dust has settled. The dollar has tanked, treasuries are neglected, and gold is not so barbarous a relic after all. Attilla, come home hun.
roadrunner >>
Just wait til the gold carry trade starts to unravel Apparently there is such a thing.
If the Uniteds States falls into a depression or ression....so does the rest of the world....It will not only be us it will be everyone....China has lots of cash and owns us....well all of this has happened before ...what if we stopped buying goods from China...then what becomes of China's economy....One has to hold the other ones hand or both could go boom boom together...This is the NEW WORLD ORDER...What happens to one Happens to all!! Everyone must remember DO NOT BITE THE HAND THAT FEEDS YOU!
Sure there are Millions of homes that will be in foreclosure...and it is the Banks that should be FINED for doing what should have been illegal....They made the mess now let them eat the cost of doing DIRTY underhanded business....We owe China Billions...guess what they may be living next door to you in 6 months....Who else is going to pick up the slack...They have been trained in HIGH TECH jobs by the US government and let our people stay ignorant...You better like to eat Chinese and learn to speak Chinese cause that's what is coming!!!! They are Tired,Poor and Hungry!!!! But they will be able to buy these foreclosures and tax free for 7 years....yes sir reeeee!!!!!
<< <i>Amazing, when this forum get off coins what ignorance comes out. I'm reffering to you CG. >>
Let me guess another Bush loyalist. Hard to phathom but then again history shows that it is not hard to dupe the masses depsite the reality right in front of their noses. Millions wept in the USSR when Stalin died.
CG >>
You'd think true conservatives would be up in arms over this kind of talk:
GOP leaders told Bush that his hardcore push to renew the more onerous provisions of the [Patriot] act could further alienate conservatives still mad at the President from his botched attempt to nominate White House Counsel Harriet Miers to the Supreme Court.
“I don’t give a g-ddam,” Bush retorted. “I’m the President and the Commander-in-Chief. Do it my way.”
“Mr. President,” one aide in the meeting said. “There is a valid case that the provisions in this law undermine the Constitution.”
“Stop throwing the Constitution in my face,” Bush screamed back. “It’s just a g-ddam-ed piece of paper!”
Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
Comments
<< <i>My friends, the play is just beginning. Hold on to your seats,
for I believe ,that we are in for a very bumpy ride. >>
I figured it was about time for Bear's annual "bumpy ride" prediction.
<< <i>
<< <i>My friends, the play is just beginning. Hold on to your seats,
for I believe ,that we are in for a very bumpy ride. >>
I figured it was about time for Bear's annual "bumpy ride" prediction. >>
My favorite bit of wisdom - "Even a clock that don't work is right twice a day" of course this only applies to non-digital clocks
...
Yes, you guys (gals) know me as Mr. NON gloom and doom, and a regular anti-gold/bull market believer.
Inflation:
I do believe this CPI index is worthless. Raodrunner (Brian) is correct. They skew the #'s with the variables included in the index. Taking out and placing back in ones to make it look good. I am one that believes and trust very little on what the media/press and governement reports to us.
Commodities have been EXTREMELY inflationary. This effects everything we buy and do. Oil increase the cost of even packaging goods for sale.
in Michigan, rents are getting cheaper, cars can't be sold (so based on Econ 101 supply and demand, should go down in price, if the car companies can stay afloat by doing so), and maybe food has gone up a bit. (We rarely buy milk).
I guess it's important to note, housing is going down and is much more affordable than most states, BUT, part of the problem is many are MOVING... to where the jobs are. No way is Michigan enjoying WAGE increases. Many are in fear of LOSIING their job, if they haven't already. An inflationary sign also.
Real estate in places like Austin have continued to increase - people are moving there vs. leaving.
1977 vs. Today and Inflation and "sacrificing spending":
Interesting note about air conditioning costs in Florida. I wonder how many even HAD air conditioning in the 1970's or earlier, when inflation was so high???
How about the giant SUV's everyone is tooling around in? Yeah, I know the 70's had big cars, but I just came back from Paris France.
Most cars were smaller than our TV's!!! I bet they use a tank of gas a year.
Keep in mind you are able to finance your home at (technically) record low interest rates, still. The government is borrowing money for 30 years at 4.84%. That's a steal in my book. 30 years ago, borrowing rates were in the mid to high TEENS!!!! Can you imagine the chaos if that were today??? TODAY you can get a 30-year mortgage at under 7%. A steal again.
1977, you had ONE TV and regular ole phone. Today, you have the fancy Plasma TV along with your other TV's AND a computer to go along with it, DVD player, cable and internet access ($125 a month, if you're lucky), a cell phone along with your regular land-line phone ($125 a month), and have no problem paying $500 a month for a car payment.
And if you don't have the money to get all this, lease or put it on your credit card!!! (hahaha).
I'll take today vs. 1977.
You did not see my earlier post:
I am not an inflation hawk, but when I do see three of my biggest expenses (education, health care, and insurance) go up substantially (high single digits), year after year, I have to question how we measure inflation. I would rather you doubled the price of my eggs and milk and kept the rise in cost of these three items to an increase of only 3%.
Now for the new stuff:
When I went to college in 1983, tuition, room, and board at a top tier private university was about $15,000, all in, or $60,000 for four years. Today, it's just reached $50,000 for one year, and my advisors tell me to expect at least $60,000 for one year when my young children are of college age. That's a quadrupling of cost in one generation.
I am a believer in the US economy, capital markets, etc., but there is considerable inflation in certain areas that do not seem to be measured by reported statistics.
That may be true. But we aren't at 1977 yet imo. I'd say we're closer to 1974-1975. Those were classic stagflationary times, very much what we are experiencing today. But what really needs to be said is what 1982 will
look like this time. That's the year things bottomed out in that recession. I don't think we'll have anything as good as 1982 with
25 yrs of monetary and banking abuse to shake out over the next 5-8 years.
My alma mater cost $5K per year for everything. Today it's $50K (10X). That's 40 years of inflationary effects. In that same period our
money supply increased by about 13-15X. Too bad the FED hasn't controlled educational costs like they have managed gold over the same
period.
roadrunner
25 yrs of monetary and banking abuse to shake out over the next 5-8 years.
And if you substitute hillary instead of Reagan..............................let's just talk government confiscation of private property, for starters.
I knew it would happen.
Yes, those are three heavy increases. But why???:
Insurance. Thanks to frivilous lawsuits, fraud and throw in some major storm damages (hurricanes). Inflationary because of the risk/cost to insurance companies vs. return to make a profit.
Education: I dont get this one. With the wages of teachers/professors not too pricey, technology (for computers, etc.) not out of reach, and money from lottery tickets. Maybe I am missing something, but WHY DOES EDUCATION INCREASE SO MUCH EACH YEAR??? (U of M's "Big House" stadium is getting a $22 MILLION renovation. OK Sorry that's not part of the education equation!!!!)
Healthcare: We WANT at any cost to live (and are living longer). In 1950, you couldn't get a triple heart bypass to keep you living longer, and you DIDN'T live as long. Expensive medications and surgery, and millions are spent (research, procedures, etc.) to help with keeping someone alive longer than years ago. (In the long run, helping with the rise in insurance premiums).
Solution??? Home school, take the risk and not have any insurance. Radical, but many have no other choice.
Back to gold for a sec. It is simply a COMMODITY that is rising with the other commodities. It seems NOT to have any monetary/inflationary reasoning TODAY.....
with cheap goods made with near slave labor.
also allowing tons of illegal immigrants into our country allows other sectors
cheap labor to keep prices down. think picking crops. kids used to get school
off and they helped out.
it seems our govt realizes this and will continue down this path as long as it lasts.
kids used to get school off
Yeah, and english-speaking kids also used to do countless other jobs that are overrun by illegals today.
<< <i>1977 vs. Today and Inflation and "sacrificing spending":
Interesting note about air conditioning costs in Florida. I wonder how many even HAD air conditioning in the 1970's or earlier, when inflation was so high??? >>
By 1977 most folks had air conditioning down there, even if it was just a window unit rather than central air.
<< <i>How about the giant SUV's everyone is tooling around in? Yeah, I know the 70's had big cars, but I just came back from Paris France.
Most cars were smaller than our TV's!!! I bet they use a tank of gas a year. >>
As a starving student in 1977 I had a VW Beetle. Thirty years later I have since changed brands, and the new big German machine gets close to the same MPG as the Beetle. Being a creature of the Autobahn, it seems to get its best milage at 80 mph. Nonetheless I resent the fact that a Prius that costs half as much gets twice the mileage using green technology.
<< <i>Keep in mind you are able to finance your home at (technically) record low interest rates, still. The government is borrowing money for 30 years at 4.84%. That's a steal in my book. 30 years ago, borrowing rates were in the mid to high TEENS!!!! Can you imagine the chaos if that were today??? TODAY you can get a 30-year mortgage at under 7%. A steal again. >>
A few years ago when 30 year rates dropped to 7% everyone ran to refinance thinking that rates would never be that low again. Within a couple of years I had refied at least three times and am now at 4.365% on a 15 year loan.
<< <i>1977, you had ONE TV >>
Actually, as a starving student in 1977 my room mate and I had a Bi-Module Tele-Audio System also known as a HoWO, short for Hear One Watch One. It consisted of two aged TV’s next to each other-- one had a picture but no sound, and one had sound but no picture.
<< <i>Today, you have the fancy Plasma TV along with your other TV's AND a computer to go along with it, DVD player, cable and internet access ($125 a month, if you're lucky), a cell phone along with your regular land-line phone ($125 a month), and have no problem paying $500 a month for a car payment. >>
Ludite that I am, I don’t have a plasma TV.
<< <i>I'll take today vs. 1977 >>
Well the technology is certainly better and cheaper. On the other hand, in 1977 anyone earning $100,000 a year was earning big money. Dom Perignon cost $35 a bottle. A $1 million house looked like a million bucks. A Mercedes cost $15 K. Of course, few people could afford to buy any of those “luxury items” back then. With the new affluence experienced by the Baby Boomers, luxuries have become necessities, and people are going broke on $100,000 a year.
CG
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
Yeah, and today people actually PAY for TiVo to record TV shows. 20 years ago everyone did that for free (after the purchase of a single T-160 VHS tape).
may not follow the trend, from yr to yr it certainly does. For such a barbarous relic, the central banks and FED sure go to great lengths to
naked sell gold shares all the time as the trading day ends. And if not currency related, why the timed Central Bank sales when it hurts gold the most? As already stated, gold is moving up against most all currencies in the past several years....sounds like money to me.
roadrunner
A computer that had a 1000 Mhz processor a few years ago, but now has a 3000 Mhz processor is considered to have fallen in "price" by 2/3.
By using tricks to vastly understate the inflation rate, the US government is able to hold interest rates unfairly low, cheating savers but benefitting debtors--the biggest of which is the US government.
It's all fraudulant accounting that is much worse than anything Enron or Worldcom did.
2007 $1 in paper = 2.8 cents in gold
The people don't even realize how they have been screwed.
More inflation = less value of your dollar = more money to buy the same thing
Look at the Euro, it came out at 80 cents to the dollar and is now 1.40 to the dollar. THAT IS A 60% DECREASE IN YOUR DOLLAR IN LESS THAN 10 YEARS!!! The dollar is falling against all the major currencies!
The dollar is being purposely BROUGHT DOWN to zero. There is usually a 2-3 year period for people to see the effects of inflation.
So when your dollar has been devalued by over half in the past 10 years (they've more than doubled the money supply in ten years so this is conservative), your stock markets are ALL actually at a major loss. This is not rocket science.
$10,000 in 1997 = $20,000 in 2007
The main thing keeping the dollar trading is that it use to be the currency of trade for the world, for oil. Now after the traitors to America, Greenspan and Bernanke, have openly stated the end of the dollar and that the new currency is the Euro, it's the official end of the dollar starting now.
Greenspan: Euro Gains As Reserve Choice
Greenspan predicts falling house prices, rising inflation
Fears of dollar collapse as Saudis take fright
For Greenspan to say such things pretty much makes it happen since so many people let him think for them.
Oh, when will the kool aid drinkers wake up? It's going to be a rude awakening.
Rob
Now, the forum rate is widely held to be 10%, from what I have read here. I have alerted the folks at the link above to consult with the forum gurus. Gurus. What a funny word.
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
CG
<< <i>Why blame the Fed when the biggest borrower has been the Federal Government during the Bush administration?
CG >>
From the San Fran area, eh?
<< <i>From the San Fran area, eh? >>
You bet. Be sure to say hi to all of your John Bircher pals down your way.
CG
<< <i>
<< <i>From the San Fran area, eh? >>
You bet. Be sure to say hi to all of your John Bircher pals down your way.
CG >>
Cool, say hello to Hugo and Fidel...
CG
Paul
<< <i>Amazing, when this forum get off coins what ignorance comes out. I'm reffering to you CG. >>
Let me guess another Bush loyalist. Hard to phathom but then again history shows that it is not hard to dupe the masses depsite the reality right in front of their noses. Millions wept in the USSR when Stalin died.
CG
Paul
I never get tired of that one.
---------------------------------------------------------------------------------------------------------------------------------------
BONGO HURTLES ALONG THE RAIN SODDEN HIGHWAY OF LIFE ON UNDERINFLATED BALD RETREAD TIRES
<< <i>I didn't know the open forum was back!
Yeah, tell them to stop!!!
M3 money supply reported growth at 15% over the last two months.
Check your food bill, electricity, home heating, real estate taxes........bet they are in the neighborhood of 8-10%
I call BULLSH&T!!!!!!!
That basket changes since as it was already stated, substition and quality effects are randomly inserted. The CPI was pushing 20% in the early 80's and the govt said never again would they let that happen. And in 1983 the CPI was cooked for good when equivalent rents replaced the price of homes.
Inflation by definition is the increase in money supply over time. It has basically been averaging 10% since 1996 when the FED first went on a tear. Currently yoy money supply increase (Ie inflation)
is 12-14% in the US, 20% in China, over 50% in Russia. The other G8 nations will not take second fiddle to weakening their currencies at a faster rate than the dollar. They are geniuses.
"Inflation" at 1.9 %? Hardly. What is at 1.9% is a funky basket of goods with black box mathematics applied to it. If you believe the CPI is an accurate reflection of price increases then you probably believe the BLS jobs reports each month as well. You know, the same one that says we add 100,000 to 150,000 jobs a month on average. I wonder how many jobs would be added per year if the 1,000,000 jobs guaranteed annually by the Birth/Death model black box were taken away? How about counting the actual number of real jobs, not ghosts from a computer.
And to keep this coin related, $20 Libs in MS64 jumped another 5% in one day from $1525 to $1600. That's 25% in just a few weeks.
Someone must want them bad. Anyone have generic $20's in their CU Trading Accounts?
roadrunner
War is a Racket
122/123
John Reich Collectors Society
Capped Bust Dimes
You guys remind me of my grandad remembering when he used to be able to buy a burger for a nickel.
I agree with Lloyd.
We enjoy things today that previous generations could never have dreamed of. All people do is say how bad we have it and how hard life is.
Time to take some history lessons.
Works for Hitlery and Haliburton!
Have no idea what that has to do with the rest of this thread.
Well, here we are a few weeks later when the real dust has settled. The dollar has tanked, treasuries are neglected, and gold is not so barbarous a relic after all. Attilla, come home hun.
roadrunner
HE>I
<< <i>I'm sort of chuckling over this current gold move. When the hedge fund credit crunch first hit it was treasuries and dollars that money initially moved into. A few of the anti-gold crowd were quite proud of that......as gold right then and there was not yet a safe haven.
Well, here we are a few weeks later when the real dust has settled. The dollar has tanked, treasuries are neglected, and gold is not so barbarous a relic after all. Attilla, come home hun.
roadrunner >>
Just wait til the gold carry trade starts to unravel
Apparently there is such a thing.
<< <i>Crito, where's the beef ?
I'm a vegetarian... but I gots me some gold.
Proud recipient of two "You Suck" awards
<< <i>Translation: as long as I keep making lots of money I could care less about the rest of you whiners. >>
If that is a translation of my post? It couldn't be further from the truth.
<< <i>
<< <i>Amazing, when this forum get off coins what ignorance comes out. I'm reffering to you CG. >>
Let me guess another Bush loyalist. Hard to phathom but then again history shows that it is not hard to dupe the masses depsite the reality right in front of their noses. Millions wept in the USSR when Stalin died.
CG >>
You'd think true conservatives would be up in arms over this kind of talk:
GOP leaders told Bush that his hardcore push to renew the more onerous provisions of the [Patriot] act could further alienate conservatives still mad at the President from his botched attempt to nominate White House Counsel Harriet Miers to the Supreme Court.
“I don’t give a g-ddam,” Bush retorted. “I’m the President and the Commander-in-Chief. Do it my way.”
“Mr. President,” one aide in the meeting said. “There is a valid case that the provisions in this law undermine the Constitution.”
“Stop throwing the Constitution in my face,” Bush screamed back. “It’s just a g-ddam-ed piece of paper!”