|
Joined: Apr 2010
Posts: 15,864
Campfire Ranger
|
Campfire Ranger
Joined: Apr 2010
Posts: 15,864 |
Romney just needs to put these numbers front and center... 14.5% Unemployment 7% Inflation Make it a mantra and make it a landslide election.
"Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other." - John Adams
Turdlike, by default.
|
|
|
|
Joined: Jun 2002
Posts: 131,742 Likes: 20
Campfire Sage
|
Campfire Sage
Joined: Jun 2002
Posts: 131,742 Likes: 20 |
Maybe, but if you sit around waiting for the inflationary impact of a lot of that 'stimulus' you'll never see it. It has already had its impact... Preserving a previous inflationary event, the overpricing of housing.
A hell of a lot of money was used for this purpose, to prevent price discovery in housing. It was extinguished in cancelling deflation. It may still no be enough, we may still see downward pricing in housing if the central bank or the GSEs pull their support for the MBS market.
Will Smoke and mirrors. All that was accomplished by application of Keynesian pseudo-scientific monetary economics was an adjustment in who takes the hits and when, kicking the can down the road, but the can keeps getting bigger the further down the road it gets kicked. At some point the piper must be paid. Better sooner than later.
|
|
|
|
Joined: Aug 2005
Posts: 26,337
Campfire Ranger
|
Campfire Ranger
Joined: Aug 2005
Posts: 26,337 |
i love the games we play on the internet. just how sound can a currency be? 90 percent, 100 percent, 110 percent?
who benefits most at each level of "soundness?"
don't get me wrong, i'm as fiscally conservative as anyone here, no doubt.
but, if someone can beat the incumbent, then what will they espouse or say? we don't want who can knock out the incumbent without a viable alternative vision.
the vision, now we're talking.
|
|
|
|
Joined: Apr 2006
Posts: 5,687
Campfire Tracker
|
Campfire Tracker
Joined: Apr 2006
Posts: 5,687 |
Smoke and mirrors. All that was accomplished by Keynesian pseudo-scientific monetary economics was an adjustment in who takes the hits and when, kicking the can down the road, but the can keeps getting bigger the further down the road it gets kicked. At some point the piper must get paid. Keynes didn't tell us to make the dollar into a global reserve currency, he specifically warned us against it. Keynes didn't tell us to run a massive fiscal deficit in times of plenty the Chicago school adherents did... and even had the nerve to tell us 'deficits don't matter'. Keynes didn't tell us to run a massive trade deficit, he told us decades ago it would bankrupt us. Keynes didn't use the central bank to underprice monetary costs and induce asset bubbles, a couple Ayn Rand disciples did. Keynes was not the end all and be all, he made mistakes like everyone else. But blaming him for a lot of our troubles is not only wrong but wrongheaded. Will
Smellin' a lot of 'if' coming off this plan.
|
|
|
|
Joined: Jun 2002
Posts: 131,742 Likes: 20
Campfire Sage
|
Campfire Sage
Joined: Jun 2002
Posts: 131,742 Likes: 20 |
Smoke and mirrors. All that was accomplished by Keynesian pseudo-scientific monetary economics was an adjustment in who takes the hits and when, kicking the can down the road, but the can keeps getting bigger the further down the road it gets kicked. At some point the piper must get paid. Keynes didn't tell us to make the dollar into a global reserve currency, he specifically warned us against it. Keynes didn't tell us to run a massive fiscal deficit in times of plenty the Chicago school adherents did... and even had the nerve to tell us 'deficits don't matter'. Keynes didn't tell us to run a massive trade deficit, he told us decades ago it would bankrupt us. Keynes didn't use the central bank to underprice monetary costs and induce asset bubbles, a couple Ayn Rand disciples did. Keynes was not the end all and be all, he made mistakes like everyone else. But blaming him for a lot of our troubles is not only wrong but wrongheaded. Will Keynes provided the tools and justifications for what's currently going on. He popularized the notion of pseudo-scientifically centrally planning the monetary supply in order to prosper today at the expense of the future by successive bubble creation, regarding which, as he proclaimed, we're all ultimately dead anyway. Well, the future is now, and while he's dead, we're not. PS I'm aware that he didn't recommend constant expansion of government spending, but he failed to account for human nature in an environment where such a thing is possible.
|
|
|
|
Joined: Apr 2006
Posts: 5,687
Campfire Tracker
|
Campfire Tracker
Joined: Apr 2006
Posts: 5,687 |
Actually what Keynes provided was a framework by which a surplus accrued in times of plenty could be brought to bear to prevent an overcorrection to the demand side in times of recession. An overcorrection that would need to be corrected when the stress of the moment subsided.
He never once advocated preventing recessions or preventing market mechanisms from price discovery. Those are bogeymen that are thrown out for political cover. Running deficits in times of plenty, going head over heels into debt in times of stress, and doing so to prevent price discovery are most certainly NOT what he envisioned.
Keyne's biggest sin was that he didn't account for human nature. He didn't account for those who would sacrifice the future of the nation for short term political/economic gain. The trouble isn't Keynes it is the fact that we follow Friedman when times are good and Keynes when times are tough. You cannot have that level of irresponsibility and expect long term success.
Will
Smellin' a lot of 'if' coming off this plan.
|
|
|
|
Joined: Jun 2002
Posts: 131,742 Likes: 20
Campfire Sage
|
Campfire Sage
Joined: Jun 2002
Posts: 131,742 Likes: 20 |
Keyne's biggest sin was that he didn't account for human nature.
And there is our point of agreement.
|
|
|
|
Joined: Dec 2004
Posts: 9,341
Campfire Outfitter
|
Campfire Outfitter
Joined: Dec 2004
Posts: 9,341 |
One big mistake was allowing Friedman to have a voice and Phil Gramm, his boot licker, to have a senate seat.
The end of democracy, and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.
|
|
|
|
Joined: Sep 2002
Posts: 2,091
Campfire Regular
|
Campfire Regular
Joined: Sep 2002
Posts: 2,091 |
I agree but the reason the velocity has been slow is because it has been used to fill the black hole left by the housing bubble. It has in effect been extinguished.
The banks use the spread to limp toward solvency and the rest of us put up with a crappy economy while the central bank takes care of them. They have proven to be far too politically powerful to be allowed to be subject to the forces of capitalism that the rest of us face.
Eventually I believe we will have a large dose of inflation. And I agree that it will come from foreign currency being released into the market. The dollar as global currency reserve is on borrowed time. It allowed cheap energy but it also allowed the US to be stripped of its manufacturing base. The end of its regime will mean a reversing of this process but as of now there is no viable alternative. Eventually I think there will be several global currencies and the dollar will be one of them. But it is an extremely complicated process and there will be enough pain to go around and then some.
Hell it is happening around us as we speak and 90% of Americans still don't see it. A good many think reducing regulations or doing away with government unions will make us globally competitive, lol. This thing is so big that trimming around the edges won't even touch it. This is a total shakeup of the status quo. It has been going on for decades and isn't halfway done yet, not even close.
Will I guess I'll ask a foolish question? Where is all this excess currency going to flow from? From what I can tell there are very few nations around with a currency "surplus". Are we going to lend them the money? Just askin'.
Happy Trails! NRA Life Member
|
|
|
|
Joined: Jul 2010
Posts: 1,950
Campfire Regular
|
Campfire Regular
Joined: Jul 2010
Posts: 1,950 |
Don't know about you guys, but we keep all our receipts. One year ago, we were paying 25% less on groceries. When Obama took office gasoline was $1.70/gallon, today it is over $3.
If they used 1980 methods to account for inflation, we have about a 12% inflation rate and 10% unemployment.
Current methods include the price of a new home, but no the price of groceries or gasoline. They say they are "too volitile" and "subject to seasonal changes". I say it is BS, because everyone has to have food and fuel to function in this society.
|
|
|
|
Joined: Sep 2002
Posts: 2,091
Campfire Regular
|
Campfire Regular
Joined: Sep 2002
Posts: 2,091 |
Well I gues they could invest in real estate which might prop up real estate values and end for some folks "being under water." We're doing the same thing with our expenses. Being both retired and on a fixed income plus my wife and I working part-time we are keeping our heads above water-but just barely.
Happy Trails! NRA Life Member
|
|
|
|
Joined: Nov 2006
Posts: 34,261
Campfire 'Bwana
|
Campfire 'Bwana
Joined: Nov 2006
Posts: 34,261 |
I agree but the reason the velocity has been slow is because it has been used to fill the black hole left by the housing bubble. It has in effect been extinguished.
The banks use the spread to limp toward solvency and the rest of us put up with a crappy economy while the central bank takes care of them. They have proven to be far too politically powerful to be allowed to be subject to the forces of capitalism that the rest of us face.
Eventually I believe we will have a large dose of inflation. And I agree that it will come from foreign currency being released into the market. The dollar as global currency reserve is on borrowed time. It allowed cheap energy but it also allowed the US to be stripped of its manufacturing base. The end of its regime will mean a reversing of this process but as of now there is no viable alternative. Eventually I think there will be several global currencies and the dollar will be one of them. But it is an extremely complicated process and there will be enough pain to go around and then some.
Hell it is happening around us as we speak and 90% of Americans still don't see it. A good many think reducing regulations or doing away with government unions will make us globally competitive, lol. This thing is so big that trimming around the edges won't even touch it. This is a total shakeup of the status quo. It has been going on for decades and isn't halfway done yet, not even close.
Will I guess I'll ask a foolish question? Where is all this excess currency going to flow from? From what I can tell there are very few nations around with a currency "surplus". Are we going to lend them the money? Just askin'. Currency today is X's and O's on a computer screen. Real currecny is king because there is so little of the real stuff out there. I'd love to see Congress mint dollar and two dallar coins eventually working up to five, ten, and twenty dollar coins.
Don't vote knothead, it only encourages them. Anonymous
"Never underestimate the power of stupid people in large groups." Anonymous
"Self-reliance, free thinking, and wealth is anathema to both the power of the State and the Church." Derby Dude
|
|
|
|
Joined: Jun 2002
Posts: 131,742 Likes: 20
Campfire Sage
|
Campfire Sage
Joined: Jun 2002
Posts: 131,742 Likes: 20 |
Don't know about you guys, but we keep all our receipts. One year ago, we were paying 25% less on groceries. When Obama took office gasoline was $1.70/gallon, today it is over $3.
If they used 1980 methods to account for inflation, we have about a 12% inflation rate and 10% unemployment.
Current methods include the price of a new home, but no the price of groceries or gasoline. They say they are "too volitile" and "subject to seasonal changes". I say it is BS, because everyone has to have food and fuel to function in this society. Of course it's BS. If they actually measured real price inflation, they'd have to pay out significantly more in benefits, which they will have to print up, thus triggering hyperinflation.
|
|
|
|
180 members (280shooter, 1OntarioJim, 257 roberts, 222Sako, 2500HD, 19 invisible),
1,633
guests, and
932
robots. |
Key:
Admin,
Global Mod,
Mod
|
|
Forums81
Topics1,192,372
Posts18,488,335
Members73,970
|
Most Online11,491 Jul 7th, 2023
|
|
|
|