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Oculus Spirit [97807]
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I read these things now and they read like propaganda
May 29, 2014, 11:09 AM
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http://www.cnbc.com/id/101713801
GDP shrank 1.0%, that's because of the cold winter.
Consumer spending rose - That's because of Obamacare, not because of the highest utility bills in history.
Unemployment rate dropped - That's because of more jobs
Inventories are lower - but don't worry, they're rebounding.
The labor market is "firming" because new jobless claims are how Reuters measures the labor market.
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All-In [34119]
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Re: I read these things now and they read like propaganda
May 29, 2014, 11:54 AM
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Whereas your position would be...
GDP rose every quarter for three years, but it dropped this winter because of Obamacare?
Consumer spending rose, but that's because... um, they had to stock up on food before the world economy finally collapses because of Obamacare?
The unemployment rate dropped and there are more jobs today than ever before, but, um... Benghazi?
Or, if that's not your position, why do you think GDP has risen every quarter except for one? And hey, what happened to the inflation you and others said would result from the QE injections?
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All-Pro [673]
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Inflation is in the food. Eaten out lately?***
May 29, 2014, 2:04 PM
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Heisman Winner [111920]
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Re: Inflation is in the food. Eaten out lately?***
May 29, 2014, 2:12 PM
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food prices are tied to to gas prices, but no worries stay the course. Drill Dril Drill..
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All-Pro [673]
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true.
May 29, 2014, 5:20 PM
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Yes food prices are loosely tied to gas prices. I'm not sure how that helps your argument. How does gas nearly doubling in price prove there is no/low inflation
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Heisman Winner [111920]
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Re: true.
May 29, 2014, 11:09 PM
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because gas is subject to speculation, shortages, etc, so the price of a barrel of crude oil fluctuates independent to our currency.
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Oculus Spirit [97807]
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Here's how that works, or doesn't
May 30, 2014, 12:01 PM
[ in reply to true. ] |
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Gas prices in the US are tied to refineries as much or more than crude prices. We haven't built a new refinery in decades. We could drill a trillion gallons of crude, and we would still be producing nearly the same level of gasoline. Since refining capacity is limited, the price stays high. BUT, with those high prices oil companies can drill like crazy and export excess crude to countries smart enough to have adequate refining capacity.
As for food prices, which was the original point...
Don't worry, there's a propaganda article for that too.
https://uk.news.yahoo.com/world-bank-sounds-alarm-rising-202850180.html#lMAufOp
Drought in the US
Ukraine problems
Hungry Chinese
My take, and no one ever points this out... Watch the dollar over time, and you see why food and oil prices have jumped. The Arab Spring was fueled largely by high food prices. It started at a produce stand in Tunisia. In 2011...see chart below. Make the chart show back to 2003.
http://www.fxstreet.com/rates-charts/usdollar-index/
Oil is traded and valued in dollars. Volatility of the dollar is reflected in oil prices. The middle east economies are tied to the dollar because of oil. They sell the oil in dollars, then have to convert that into their currency to pay for food, etc. So the price of food increases because oil prices increase (higher production and transportation costs), but in other countries it increases more because they then have to convert their oil dollars into local currencies to pay for food.
As long as our dollar is sliding (thanks Federal Reserve, etc.) and as long as we don't build increased refining capacity (thanks EPA), gas prices will not come down, but will slowly go up. The dollar has lost 18% of its purchasing power internationally since 2003. Our next crisis will not be bad loans, etc. It will be the dollar, and there's very little we can do once that starts. It is driven by stimulus ($1,000,000,000,000), QE ($13,000,000,000,000 - or $4,000,000,000,000 if you deduct the $9,000,000,000,000 written off using Enron accounting tricks), and our $17,000,000,000,000 national debt.
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All-In [34119]
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Re: Here's how that works, or doesn't
May 30, 2014, 12:41 PM
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Interesting. Would that mean that Reaganomics was hugely unsuccessful, since there has never in recent history been a more catastrophic plummet of the dollar than between 1984 and the end of Reagan's administration? (And of course there was the tripling of the federal debt.)
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Oculus Spirit [97807]
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Very good point
May 30, 2014, 2:39 PM
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If not for this:
And this....
Different time, different circumstances. Oh, and Congress appropriates the money, not the President. Oh, and I don't recall mentioning Obama, or any President in my posts on this subject, not to mention any political party.
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All-In [34119]
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Thank you
Jun 1, 2014, 11:12 AM
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for providing a visual that so clearly illustrates the catastrophic plummet under Reaganomics that I was referring to.
Now, let's see how many excuses for Reagan we can find in your post:
1) "Different time, different circumstances."
Did you say that with a straight face? You cannot be suggesting that, in that different time, under those different circumstances, catastrophic plummets in the US dollar were a good thing. Or can you?
2) "Oh, and Congress appropriates the money, not the President."
Aha, it's Congress's fault, presumably because appropriations by Congress determine the value of the dollar. Not interest rates and other fiscal policies set by the Fed? Not executive policies determined by the President? Funny, because you blamed the Federal Reserve (and not Congress!) in this post. I guess it's Congress's fault when Reagan is in office, but not when he's not.
3) "Oh, and I don't recall mentioning Obama, or any President in my posts on this subject, not to mention any political party."
No, you didn't. I mentioned Reagan. I was wondering if Reaganomics was a failure based on your post about the sliding value of a dollar, considering that the dollar has never slid more in the last 50 years than under Reaganomics. I think your answer spoke volume, and I thank you for it.
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All-In [34119]
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Orange Blooded [3392]
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I was just thinking about that the other day.
May 29, 2014, 3:58 PM
[ in reply to Inflation is in the food. Eaten out lately?*** ] |
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Back in the early '90s when I was in college, you could eat at McDonald's for only $5 bucks. Twenty years later, it's closer to $6 bucks.
What is this world coming to?!?!
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All-Pro [673]
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guess you haven't noticed the change in portion size.***
May 29, 2014, 5:19 PM
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Hall of Famer [24834]
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Obviously not...***
May 30, 2014, 3:56 AM
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CU Guru [1073]
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All-In [34119]
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Re: I read these things now and they read like propaganda
May 30, 2014, 10:19 AM
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Not sure what you're referring to. "That" 3%?
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Oculus Spirit [79453]
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Forward comrade, forward. Yes we can!***
May 29, 2014, 11:54 AM
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Legend [18026]
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Most political posts posted here read like propaganda***
May 29, 2014, 12:58 PM
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