Posted on 01/22/2024 7:45:38 AM PST by davikkm
Wait for the New Dollars that will replace the old greenbacks. Big Colorful things they will be too—all woke. No more presidents or founders. I predict: On the One, Susan B. Anthony, The two, Sojourner Truth, On the Five, Sitting Bull, on the ten, Harvey Milk, one the Twenty, Martin Luther King, On the fifty, Eleanor Roosevelt, One the Hundred,Barrack Obama, On the Two Hundred, Pocahontas, one the one Thousand Jimmy Carter. The five Thousand, Hillary Clinton.
You guys are confusing demand with consumption. Economics would like them to be the same thing, but obviously, in the context of imagination, they are not.
You can want to own a product. That is demand. You can’t buy it because either you can’t afford it — or, to the hatred of economics — it may not exist. There may be scarcity. If a product does not exist (remember the long lines at the gas stations?) your demand will still exist, but your consumption of it will not. REGARDLESS OF PRICE.
And so, supply and demand doesn’t happen. The availability of money doesn’t affect demand. You still want it even if you can’t get it.
Know the details. Don’t lean back and imagine things you were taught were true. Supply and Demand has no relationship to money supply if there is scarcity, and there often is.
Two generations of idiots now who believe these age old historic pricing scams.
#FJB
The LAW that you specifically mentioned is strictly ECONOMICS! Imagination has absolutely ZERO part in that.
ECONOMIC demand requires money. No money--no demand. More money = more demand.
WANTING to own a product is NOT demand. That is merely wishful thinking and plays no part AT ALL in the law of supply and demand.
Sheesh. I'm not even an economist and I can understand something as basic and simple as this.
>>WANTING to own a product is NOT demand.>>
Wanting and Demand are not the same? “I demand you give me that because I don’t want it.”
Economics generally hates this situation — where demand and consumption are not the same thing. Economics fundamentally objects to scarcity of any kind. In their world, there is always enough of something.
Regardless, the price of things is determined by the imagination of counterparties. A seller can declare his price, but if no one buys, that is not the price. A seller can also declare a price when he has no product on the shelf. That won’t be the price then, either, regardless of money supply.
The point was no one knows what induces inflation. It is caused by counterparties having imaginations that align, but that says nothing about what induces the imaginations.
Milton Friedman on what causes inflation:
https://miltonfriedman.hoover.org/internal/media/dispatcher/271092/full
Von Mises discussion:
https://mises.org/power-market/very-short-primer-what-causes-inflation
That is what I've been trying to explain--"Wanting" and "Demand" are NOT the same--economically speaking. Please go look it up.
Demand has requirements for it to be considered demand.
Yes, parroting stuff.
All economics is chock full with “all other things being equal” talk, which they never are.
Examine these LAWS. The price will rise if supply reduces (all other things being equal — what is a thing btw).
Well, if supply reduces to zero, what is price then? What is the price of goods if there are no transactions? And note there will be no transactions if scarcity exists — which means supply is zero.
It’s not physics. These are not real Laws of Nature. They are all based in imagination. The money supply is largely whimsical.
Think for a moment, think of all the apocalypse scenarios you have heard of. How much talk was there of money in World War Z? How did British navy ships with damage in the Dutch East Indies get repaired? Who paid those shipyards? (the answer is a promise by a captain, in writing, that the King would pay) and what was the money supply then? For the Dutch or the British?
This is all made up stuff. Just like money itself. It comes from nothing, created by central banks. How can anything created from nothingness be expected to have Laws of Nature apply to them.
Your misunderstanding of economics is breath-taking.
I don’t even know where to start.
You need to read Von Mises “Human Action” from start of finish.
Every word.
I have an MBA. I was just fortunate to have professors to lay it all out . . . that money is a substance created from nothingness. Such a substance should obey laws . . . why?
Your terms are confusing—we don’t even have a common language to debate with here.
Read Von Mises.
Old sales trick. BUT... Just my observations...
I am a cheapskate. I like Dollar Tree.
First off they are now $1.25. 25 off the top inflation.
Rubbing alcohol was 90% now is 70%.
Dish soap was two quarts and is now so diluted it takes twice as much, AND now sold in 20 ounce
Cleaning products in smaller bottles.
Everything that was 16 ounces went to 14 ounces and is now 12 ounces
Ice cream... I don’t buy much but I went to get a “half gallon” and it was so puffed full of air I would say it was 50% air by volume.
Aluminum alloys for my shop up 7 fold.
Diesel still 5 a gallon.
OH WAIT. “Putin’s price hike....”
A 16oz can is now 12oz
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