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america is deteriorating to the point of complete destruction (no sarcasm)
obama will take the blame
it's why obama was chosen by the gov't
let the blame game begin
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I am going to agree in that Obama will find that he is the captain of the USA Titanic. I can't agree that it was goverment ordained. I just cannot believe that our government is that smart, organized, or cohesive.
...and yet you think it's a "great time to buy." (deep sigh)
It is a good time to buy because the inflation has not started YET!!!!!!!!!!!!!!
who cares? when inflation kicks in, prices will simply drop more... the payment sets affordability, and inflation will spike all interest rates
danny... Are you the guy I drive by that's holding the " It's the End Times" sign?
Inflation can only kick in if folks can AFFORD the increase in prices. Why do you keep HOPING for mass inflation? Its not going to happen. Wages are decreasing, people cant afford to RAISE prices.
We have already seen what happened when they jacked up the price of oil. They 'tested the waters' in 2005 for a week over $3 bucks. Then in 2006 . Then in 2007 a little longer. Then in 2008 they tried for $4 a gallon and the whole thing fell apart. People basically stopped driving, transportation costs went thru the roof, they tried jacking up prices to make up for it and folks quit spending.
This isnt the right atmosphere for 'inflation'. Its the right atmosphere for DEFLATION . Nobody has any money.
Housing already saw the inflation; that is why they are trying to inflate the other segments, to keep housing from dropping as fast.
Housing will not be increasing in price for at least 6 years likely more like 10 to 15 years.
But inflation eventually will increase interest rates, since getting less interest than the inflation rate means a net loss, and people don't usually loan money at a loss intentionally.
Obama will get the credit for avoiding a 1929 style depression, even though anything he does will have little effect.
But its not working and that is because of NAFTA. We didnt have NAFTA in 1979 or 1932.
We cant inflate the currency nor force prices up in a global environment of cheap labor. There is cheap labor EVERYWHERE in the world .
Gas today just outside of Kansas city is $1.52 per gallon . Its been 5 or 7 years since it was that cheap. I think gas was $1.52 the day of the 9/11 disaster.
Im telling you guys mass deflation has been coming and in fact we have already been seeing it. There is no money and nobody is spending the little they have unless its a bargain.
About it this way. How long has it been since Bernanke has yanked prime off the high he had of 5.25% ?
It wasnt yesterday or even 6 months ago. There has been CHEAP heloc money for a year now and yet there is no inflation. The tanking of prime has slowed down the DEFLATION, not cause INFLATION .
It is called "shock" and "relax". It keeps people from seeing the true inflation rate, and it numbs them from the actual market manipulations.
Eggs have doubled in price again, just like last year.
I went and purchased eggs yesterday. The price has not doubled. In fact, its the same price it was last year. The energy crunch is over.
Wages have decreased. Gas has drastically decreased. Unemployment is way up and getting worse. Housing has crashed and has no hope of recovery anytime soon. The dollar has gained. Wall st has crashed.
With all this massive and obvious deflation going on, where is all the 'inflation' ?
With a ton of cheap global labor to pick from, tell me how this 'inflation' is supposed to occur? It wont. DEFLATION will continue.
The ship is taking water and the rats are jumping ship.
With your bail out dollars I may add!!!!
Bank of America to Double China Construction Bank Stake
That is just not right!!!
Thank god. I was afraid my backyard chickens might get wind of the price increase and demand even more tomatoes and cracked corn. You just can't trust chickens in the workplace. If they organize a little beaked union, I'm done for.
sunnyV, I don't mean to sound cynical but you can always send them to the unemployment line...
I'm sorry, but I see that a lot of food has jumped in price last month.
Congress will do everything it can to inflate their way out of this debt. Inflation will increase wages making it easier to pay these rediculous mortgages. It's a tax (called inflation tax) that the people won't see coming. I see it because I'm not mid to high income. I feel the smallest price change dramatically.
What happens to the lower income people eventually creeps it's way up to the rest. It's just a matter of time. We can argue about it now, and agree later. lol
Here is the problem. Everyone thinks there is a giant conspiracy for the governement to be able to manipulate the economy.
The government cant cause inflation and deflation or whatever they want at will. What we are looking at is NAFTA and cheap global labor. We are looking at the mass deflationary value of everything from stocks and bonds to housing.
You guys are 'hoping against hope' for inflation so that your house and stocks are worth more?
Whats the point of having your $50 stock go back up to $100 if now the 100 bucks is only really worth $50 ????
We are not "hoping" for inflation; we are "predicting" it based on past experience and present pricing trends, and Fed monitary policy decissions. The economy has always been manipulated, and it is still being manipulated.
Of course the price of eggs are the same now as they were last year. They dropped back in price to the previous year's price of $1 per dosen in May this year. They doubled again about 2 weeks ago, to $2 per dosen. The typical grosery stores are selling them for almost $3 per dozen. Walmart wants $2.50 per dosen.
Egg prices are semi-local. Try chocolate prices or potato prices or rice prices. Rice was 33 cents per lb just 1.5 years ago. It is averaging closer to $1 per pound almost everywhere now.
Or check apple prices. I was paying 33 cents per lb just 1.5 years ago. Now I'm lucky if I can get them at 67 cents per pound. I did find some Johnathans at 50 cents per pound.
Who cares if the price of toys is dropping? Toys are discressionary spending and has nothing to do with the bottom line.
Even shoe prices have gone up.
When was the last time you saw school tuition prices drop? Or seasonally adjusted consumer electric rates drop? Or basic phone service rates drop? Or minimal cell-phone costs drop?
If you think the prices are dropping, than you have been tricked by the shock & relax method of price inflation, and are not looking at a long enough time span.
More "outsourcing" due to NAFTA will only mean less jobs, less taxes collected, more environmental abuses, and more financial problems for the entire country and world.
"Everyone thinks there is a giant conspiracy for the governement to be able to manipulate the economy.
The government cant cause inflation and deflation or whatever they want at will."
Have you been under a rock since 1913?
Oh... we also landed on the moon.
Getting rid of the Fed will cause more problems and volitility in the economy. The fed provides
more stability during these swings. In the US, deflation was the norm for the first 150 years..inflation is more recent since the late 40s/early 50s.
But no the world isnt run by a bunch of Swiss bankers like some would like to think.
When was the last time you saw school tuition prices drop?
LOL! its about time someone slaps these schools (non-profits) into shape and start questioning their fees and cost structures. Most are acting like for-profit enterprises... Since all are private there is very little transparency to their financial statements.
Sir Allan, if the govt is NOT capable of manipulating the economy then who writes the monetary policies? Who authorizes the printing of money? Who? Oh, the government!
How does the government collect the inflation tax and who pays this tax? The government collects the inflation tax by printing money (or by having the central bank issue new money) and using the newly created money to purchase goods and services. The inflation tax is paid by any member of the public who holds money, because inflation erodes the purchasing power of money. For example, when the inflation rate is 10% per year, a person who holds currency for a year loses 10% of the purchasing power of that money and thus effectively pays a 10% tax on the real money holdings.
Suppose that a government finds that the seignorage being collected doesn't cover its spending and begins to increase the money supply faster. Will this increase in the money growth rate cause the real seignorage collected by the government to rise? Somewhat surprisingly, it may not. As Eq. (15.10) shows, the real seignorage collected by the government is the product of two terms-the rate of inflation (the tax rate) and the real money supply (the tax base). By raising the money growth rate, the government can increase the inflation rate. However, at a constant real interest rate, a higher rate of inflation will raise the nominal interest rate, causing people to reduce the real quantity of money held. Thus whether real seignorage revenue increases when the money growth rate increases depends on whether the rise in inflation, π, outweighs the decline in real money holdings, M/P.
Now, the question is will Americans outspend on the govts printing of money? Or can the govt print tons of money and the Americans can still manage to increase savings?
I don't know about you, but I do know of lots and lots of families that are NOT saving a dime and have significantly increased their budgets to stay afloat.
When whas the last time you saw hospital bills and fees drop, or for that matter, any medical expense? Ok, I know you can get 200 asprin for $1 when you get a generic, but other than for thinning blood for stroke risk people, asprin is preety useless. Co-pays go up, insurance preminums go up, everything goes up but wages and things that were "over-inflated" (housing).
I think you guys see stuff 'go up' when the stupid business owner thinks he can get away with it. We just saw that with $4 gas. Look what it produced.
$4 gas produced mass deflation. 70% of the US economy is consumer spending. When there is shrinking credit, and a hysteria to hoard what little we got, you are going to get a shrinking economy and different mindset.
Check out the price of Gold. The key indicator of inflation. Its at $730 an ounce. How much is that in 1979 dollars?
Gold was $1000 bucks an ounce in 1979. Its not the right environment for 'inflation' . Why? People CANT AFFORD to pay it.
Pasa, my last prescription for an antibiotic was $8.99 at RiteAid. When I went in to have it filled and told them I had no insurance so I was paying cash, they signed me up for a program to get it cheaper. Honestly, it was less than a co-pay! lol
Gold is a very poor indicator of inflation; it is highly speculativ, and very few "need" it.
But compare the dollar to something people will buy regardless, such as food, or telephone service, or electricity, or water, or natural gas. Those items give a much clearer picture of actual dollar value. Even gasoline is too speculative and driven by obscure market factors and manipulation. Gasoline was only $2 per gallon just 4 years ago. Sure, it may go down some more due to the worldwide economic termoil, but it will not go to the 1965 price of 23 cents per gallon. We also need to recognize that the U.S. Government has always subsidized the oil industry and will continue to do so, in order to keep the competition out.
You can believe all the propagada about getting more for your money all you want... In that case I'm sure you won't mind that your income will be cut in half this year. Good thing there are non-profit groups still willing to give you something to eat.
Does that count as prices going "down" (what was the previous price?) Or does it mean it is "subsidized"? Or is it just an indication that the FDA allws the public to be ripped off?
Good point Pasa. Probably a bit of all? The health insurance companies are being ripped off... NOT. They require so much paperwork that it costs the places money. A natl program would further increase the costs, proof being the military problems with benefits. The last thing our country needs is more of this type of service. The regular cash price is higher, so I'm not sure if it's subsidized. I didn't need to show proof of income, so I doubt the govt was doing anything. I personally think that the company had their own program to promote business.
I think it's an indicator that prices for cash is going down, since it costs less manpower.
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