Posted on 09/28/2005 4:09:54 PM PDT by hubbubhubbub
We keep pointing out what everyone can see with their own eyes, and hub's rebuttal more or less follows a nyah-nyah-nyah logic system.
Maybe we should cut Hub a little slack-- I think he's on a "fact-free" diet.
I agree. Hub is still upset that CAFTA passed. The antidepressants are making his thinking fuzzier than usual.
Now it's my turn to LOL.
Like you said way back in Post #74, I get tired of arguing that 2+2=4 but that's no excuse; we still have to restate the truth when others speak fantasy.
In post #18, I think Bub was inadvertently referring to himself when he said They rely successfully on widespread economics illiteracy among the U.S. population.
I'd forgotten about his position on CAFTA. That was fact-free as well. At least he's consistent.
You are confusing inflation with inflation's effects on prices.
Incidentally GDP 10 years ago was 7988 vs 11089 this most recent quarter. M3 was 9873 vs 4576.
So while money supply is 2.15X greater, GDP is only 1.38X larger. GDP's average growth rate was 3.3% during the period vs. M3's 8% growth rate with an average differential between money and GDP of over 4.5%.
So even by your definition. Inflation has been quite high.
What is inflation if not a general increase in prices?
So while money supply is 2.15X greater, GDP is only 1.38X larger. GDP's average growth rate was 3.3% during the period vs. M3's 8% growth rate with an average differential between money and GDP of over 4.5%.
Yes. And if the increase in money supply was all held in the US, inflation would have been higher. How much of the increase of money supply is held in Russia, Ecuador or other countries where dollarization is either official or de facto policy? I wonder if this outflow of dollars has contributed to Greenspan's admission that money supply is difficult to measure?
So even by your definition. Inflation has been quite high.
My definition is the difficult to measure money supply minus the difficult to measure growth of GDP equals the difficult to measure rate of inflation. What is your definition?
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