Posted on 07/14/2007 11:02:40 AM PDT by bruinbirdman
Eh, eh. I actually found the article in the local leftist Las Vegas Sun, a newspaper with so few readers it has to be inserted in the conservative Las Vegas Review-Journal just so there can be "two daily newspapers" in the metro area. It was just easier to search for it at Scripps Howard.
yitbos
.... inflation would be 10-30% a year and general panic would hit the streets.
Maybe you should google the headline inflation numbers for June 2007 and let us know how close it is to 10-30%.
In the interest of not stimulating inflation even farther, food and fuel are ignored.
Ignoring something prevents it from increasing?
Food and energy are excluded from the “core” rate because they are considered too volatile.
Of course. But they are included in the headline number. Some people here think the Fed ignores food and energy. That's stupid. You can get inflation numbers with food and fuel or ex-food or ex-energy. Removing the most volatile components tells us with what the real underlying trends are. The Fed adjusts interest rates for long term impact. Some here think they should move interest rates with the price of a barrel of oil. Doing so would have no impact on prices but would make a mess of the markets. Fortunately, the people who manage interest rates are smart enough to ignore these folks.
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There is a shortage of labor in the U.S. due to a lack of population growth of our citizenry.ABORTION kills babies, and economies!
It isn’t just the illegal alien problem contributing to this misreporting of inflation. What isn’t often mentioned is that the powers that be continually change what is measured on the price side. When the price of something goes up dramatically, they take it out of the equation or add something on the negative side to balance it. Those inflation numbers are a complete misrepresentation. (I have an MBA in Economics from an excellent school.)
Agree.....you’re exactly right. Thanks for the thorough explanation.
Hack indeed. According to the BLS (Bureau of Labor Statistics) inflation calculator at the site identified above, $100 in 1982 had the buying power of $215.49 today.
I caught that as well. My wife responded — who is Bonnie Erbe?
My house is up 100%, my portfolio has doubled in the last 5 years. It is good to stay ahead of inflation.
yitbos
To me in a world where 2/3 of the population is starving it seems a sin to grow food and then burn it in the form of fuel. It is possible (since 1947) to produce ethanol directly from ethane gas and water. The process was developed by Shell Oil and has been used to produce ethanol on an industrial scale for forty years. Natural gas from the wellhead contains about 5 to 15% ethane and a variety of other gasses (the major constituent is methane at 70%). They are routinely stripped from the supply to leave almost pure methane to which is added an "odorant" to stink it up so people will notice leaks (methane has no smell!). The ethane is currently used mainly in the production of polyethylene. I would have more corn on the table and less polyethylene in the landfills. Yet all we hear about is production of ethanol from corn by fermentation and distillation which is fine if you are making "sipping whiskey". If you’re looking for the bad guys in this, its Archer Daniels Midland. Big agri-business is pushing this and the soybean diesel because of the huge government subsides involved. The real capper for this story is that ethanol is not a very good fuel. Any liquid petroleum has about 18,000 BTU per pound. Alcohol has about 12,000. In addition the difference in specific gravity is such that it's even worse on a volume basis. At the point of sale alcohol has about 60% of the energy content of petroleum. If that's not bad enough, alcohol is highly hydroscopic and will pull humidity out of the atmosphere to dilute itself down to 90% if it is exposed to air.
Regards,
GtG
Compared to the happy time, the hangover is short lived and there are remedies. Then again, not everyone at the party suffers an hangover.
yitbos
My neighbor owns a tattoo parlor. EVERYTHING he has done to his house is paid for with free tattoos! Lawn work, repairs, etc. No cash. Ever.
Back in the 80s I used to date a chiropractor. She belonged to an organization that acted as a broker for professional services (doctors, lawyers, dentists, accountants etc.)to which she paid an annual fee. Whenever she had need of professional services, she would contact the broker and be given a list to chose from. (she even got her own physician to sign up) All services provided by members was paid for in kind. No cash changed hands except for the brokers fee.
In case you haven't explained to her already, here's a one-page view that should tell her all she needs to know:
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I have no sympathy for someone who complains about inflation, real or not. There are always ways to beat it.
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I suppose you also have no sympathy for someone who complains about high taxes since there are always ways to avoid them. Inflation is just an undeclared tax. As far as saving and investing goes the whole issue is the fact that inflation destroys the value of savings. Your post is meaningless prattle which testifies to a muddled way of thinking coupled with arrogance.
Hack indeed. According to the BLS (Bureau of Labor Statistics) inflation calculator at the site identified above, $100 in 1982 had the buying power of $215.49 today.
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I started my own business in November of 82, for the first 10 months of that year I had been employed as a tech rep. at a salary of $18000. plus benefits. I had no financial problems at all living on that. Let those who say there is no inflation try living on $18000. now! Oh, and by the way, at that time I had a non-working wife who had health problems and no income of any kind. I would say the truth is considerably worse than the BLS admits, maybe we should drop the L!
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