Is the OP transitory?
The reason we should not be concerned about inflation
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Last: 1 mo ago by Helicopter Ben
A question, then a meme: does anyone really believe CPI is not in the double digits?
This is a real gem...
Quote:
I'm about half way through Mises book theory of money and credit. I have debated in the margin about 300+ statements that I completely disagree with.
A man considered considered one of the most influential economic and political thinkers of the 20th century, and a 20 year old is going to disagree with 300+ statements.
BREAKING: U.S. annualized inflation just peaked 17 percent for the first time since WW2, the highest rate in 75 years.
— Tom Elliott (@tomselliott) June 10, 2022
The media are misreporting the real data, and I’ll explain why. 1/ pic.twitter.com/ab8VP0a2H5
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LonghornDub said:
Ha! I'm not the most senile demented idiot on this board. OP is.
He has to be part of the Biden administration.
Is this the OP?
How could the geniuses that blight the landscape of financial TV and podcasts been so wrong?
You mean we can't just print and print, and send many tens of billions off to be stolen by European oligarchs…..with no consequence? U serious?
You mean we can't just print and print, and send many tens of billions off to be stolen by European oligarchs…..with no consequence? U serious?
Every time this thread gets bumped, Mises and Hayek bust out laughing in Heaven
" 'People that read with pictures think that it's simply about a mask' - Dana Loesch" - Ban Cow Gas
"Truth is treason in the empire of lies." - Dr. Ron Paul
Big Tech IS the empire of lies
TEXIT
"Truth is treason in the empire of lies." - Dr. Ron Paul
Big Tech IS the empire of lies
TEXIT
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AG
Mmmmm, Hayek bust.waitwhat? said:
Every time this thread gets bumped, Mises and Hayek bust out laughing in Heaven
Person Not Capable of Pregnancy
I'll take posts that didn't age well for $1K Alex!
Tony Franklins Other Shoe said:Mmmmm, Hayek bust.waitwhat? said:
Every time this thread gets bumped, Mises and Hayek bust out laughing in Heaven
That's some inflation I could get behind.
nothing to fear Americans!
Producer inflation down to 10.8%!!
Following CPI's unexpected crushing of the 'peak inflation' narrative, analysts expected PPI to slow modestly from 11.0% year over year to 10.9% Year over year in May.
US Producer Prices actually printed a slight miss at +10.8% YoY and was up 0.8% month over month-
the 25th straight month of increasing prices.
Producer inflation down to 10.8%!!
Following CPI's unexpected crushing of the 'peak inflation' narrative, analysts expected PPI to slow modestly from 11.0% year over year to 10.9% Year over year in May.
US Producer Prices actually printed a slight miss at +10.8% YoY and was up 0.8% month over month-
the 25th straight month of increasing prices.
Redstone said:
How could the geniuses that blight the landscape of financial TV and podcasts been so wrong?
You mean we can't just print and print, and send many tens of billions off to be stolen by European oligarchs…..with no consequence? U serious?
it is amusing to watch the millenial millionaires give financial advice on their youtube channels.
at least Andre Jihk admitted yesterday he has lost $1,260,000 in the last year.
more than half his portfolio.
Woof.LMCane said:Redstone said:
How could the geniuses that blight the landscape of financial TV and podcasts been so wrong?
You mean we can't just print and print, and send many tens of billions off to be stolen by European oligarchs…..with no consequence? U serious?
it is amusing to watch the millenial millionaires give financial advice on their youtube channels.
at least Andre Jihk admitted yesterday he has lost $1,260,000 in the last year.
more than half his portfolio.
Inflation rose 9.1% in June, even more than expected, as price pressures intensify (cnbc.com)Oldag2020 said:
Demand is temporarily outpacing our production(supply). Due to covid shut downs and supply chain disruptions. Ex. Lumber prices were inflated, now they are correcting themselves.
Once our supply chains are back up to full capacity, the added demand created by the stimulus will not cause long lasting inflation.
Our productive capacity is so high, in fact, I believe our biggest fear should be deflation, not inflation. Our productivity growth is not disappearing any time soon. The inputs to production are 1. Technological advancements and 2. Increase in labor force. Our computing power doubles every 18 months. Clearly this growth will not disappear.
It's no accident that we have continued to spend more and more throughout the last several decades with little to zero long term negative consequences.
In fact, the fed has struggled the last decade to maintain their inflation level goal of 2%. This even Despite massive spending in 2008 and artificially low interest rates.
Another reason we should not be concerned by the massive spending is that $1 in government spending = greater than $1 in gdp growth.
Gdp growth = 1/ the propensity to save
The propensity to save is currently ~ 20%
Therefore every dollar spent today grows our gdp tomorrow by $5
This $5 of gdp growth then increases tax revenue by $5.
This increase in tax revenue is used to service the debt.
Basically, we can spend as much as we want with little to zero negative consequences. Long term inflation is not on the way.
Be sure to allocate portfolios accordingly.
Hey Mr. Wizard, how long is "transitory" in your dimension?Quote:
Shoppers paid sharply higher prices for a variety of goods in June as inflation kept its hold on a slowing U.S. economy, the Bureau of Labor Statistics reported Wednesday.
The consumer price index, a broad measure of everyday goods and services, soared 9.1% from a year ago, above the 8.8% Dow Jones estimate. That marked another month of the fastest pace for inflation going back to December 1981.
Excluding volatile food and energy prices, so-called core CPI increased 5.9%, compared to the 5.5% estimate.
On a monthly basis, headline CPI rose 1.3% and core CPI was up 0.7%, compared to respective estimates of 1.1% and 0.5%.
9.1 officially reported means double digit increases - ON TOP OF THE MASSIVE INCREASES ALREADY RECORDED.
Redstone said:
9.1 officially reported means double digit increases - ON TOP OF THE MASSIVE INCREASES ALREADY RECORDED.
We know that 9.1% is bull chit with everything they can do to throw out certain things. It's really double that
OldAg hasn't shown his face since 3/13. Guess he must be busy taking classes to figure out where he went wrong. Maybe adding notes to his books of how everyone else is wrong and he's still right.
Let us consider. These past three months.
40 billion plus to the most corrupt country in Europe, Ukraine (Russia is number 2).
Then, an additional 8 billion plus … for what? To pay Ukrainian government salaries. Yes really, look it up.
PRINT. PRINT!!! BRRRRR GOES THE MACHINES
We should just keep on going, right?
Who cares that you can't afford food?
40 billion plus to the most corrupt country in Europe, Ukraine (Russia is number 2).
Then, an additional 8 billion plus … for what? To pay Ukrainian government salaries. Yes really, look it up.
PRINT. PRINT!!! BRRRRR GOES THE MACHINES
We should just keep on going, right?
Who cares that you can't afford food?
With The White House having desperately tried to front-run this morning's inflation print, analysts were expecting a jump higher led by food and energy costs.
CPI soared 9.1% year over year (vs 8.8% expected and 8.6% inflation rate in May)...
The 1.3% month over month rise is the hottest since 2005 and the 9.1% year over year is the hottest since 1981.
Services costs are soaring at their fastest since 1991
Source: Bloomberg
CPI soared 9.1% year over year (vs 8.8% expected and 8.6% inflation rate in May)...
The 1.3% month over month rise is the hottest since 2005 and the 9.1% year over year is the hottest since 1981.
Services costs are soaring at their fastest since 1991
Source: Bloomberg
I'm pretty sure OP threw away this account because he was constantly reminded how much of a dumbass he actually is. The question now is what's his new sock account?
Can an economic measure be temporary if it registers increases in literally every analysis - including those proven to undercount the increases?
Pinochet said:
I'm pretty sure OP threw away this account because he was constantly reminded how much of a dumbass he actually is. The question now is what's his new sock account?
I'm guessing he went with Finance Wizard or Market Oracle and posts pump up propaganda on the business/ investing board and makes fun of people like me who have been holding cash through this whole thing waiting for the markets to stop their long slide.
Does anyone here wish to contest that ALL government measurements of inflation significantly undercount the reality since 2020?
Please do. I actually have some time today.
Please do. I actually have some time today.
does OldAg miraculously appear in August when the inflation rate is 8.9%..
crowing about how "inflation has peaked and is now coming down to Biden's wonderful statecraft!"
crowing about how "inflation has peaked and is now coming down to Biden's wonderful statecraft!"
I still can't get over this.Quote:
Basically, we can spend as much as we want with little to zero negative consequences. Long term inflation is not on the way.
He must work at Goldman Sachs.
flashplayer said:Pinochet said:
I'm pretty sure OP threw away this account because he was constantly reminded how much of a dumbass he actually is. The question now is what's his new sock account?
I'm guessing he went with Finance Wizard or Market Oracle and posts pump up propaganda on the business/ investing board and makes fun of people like me who have been holding cash through this whole thing waiting for the markets to stop their long slide.
there was a huge @$#@# on the Miami board who was making fun of me every day about 9 months ago.
I was stating I was holding cash and was posting articles on how the economy was slacking and the markets looked like they would go down...
he would goof on me for being a boomer and not knowing what I was talking about.
who is laughing now @#$@#$ ?!
These 2 threads - located on Business, and Poltiics - now belong to me, and to all posters who called out this total nonsense immediately after initial creation.
Why note this?
BECAUSE MASSIVE AND SUSTAINED INFLATION WAS EXTREMELY PREDICTABLE LITERALLY YEARS AGO
Why note this?
BECAUSE MASSIVE AND SUSTAINED INFLATION WAS EXTREMELY PREDICTABLE LITERALLY YEARS AGO
OP is curled up in the fetal position. Oof.
LMCane said:
does OldAg miraculously appear in August when the inflation rate is 8.9%..
crowing about how "inflation has peaked and is now coming down to Biden's wonderful statecraft!"
It will not go the way he thinks it would go.
The internet never forgets!
What does the OP define as short term?
Quote:
Another reason we should not be concerned by the massive spending is that $1 in government spending = greater than $1 in gdp growth.
Gdp growth = 1/ the propensity to save
The propensity to save is currently ~ 20%
Therefore every dollar spent today grows our gdp tomorrow by $5
What the **** is this? I hope our economics program isn't teaching kids this garbage. OP is a gigantic dumbass.
The Earth is billions of years old...so you know, in those terms...Science Denier said:
What does the OP define as short term?
LMCane said:
does OldAg miraculously appear in August when the inflation rate is 8.9%..
crowing about how "inflation has peaked and is now coming down to Biden's wonderful statecraft!"
I heard a good guess that I too am hitching my wagon to. We aren't governed by rational people in this country.
We see inflation soar well into September and then we see rates lower and spending start getting even more stupid around October because "we have to get the economy stimulated" will be crowed by this admin.
Gird your loins. Next year and the year after are going to have a reckoning the likes of which we haven't seen in a long time.