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Author Topic: Inflation supports economic growth. Prove otherwise in this thread!  (Read 4288 times)
Erdogan
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July 12, 2014, 01:58:25 PM
 #101

There is a man behind the curtain.
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July 12, 2014, 02:04:43 PM
 #102

There is a man behind the curtain.


And the man realize he is slowly losing control of everything he hold dear.
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July 13, 2014, 06:05:20 AM
 #103

It just occurred to me that something very important is missing from this thread.

Define economic growth.

Excellent point.

Also: define inflation (there's monetary inflation and price inflation)

Growth is usually measured by GDP

And inflation measured by CPI and PPI
Correct GDP for inflation. What do the last hundred years look like? Also compare purchasing power of the average household, also corrected for inflation.
The GDP numbers would show slower growth, but it would still show growth. Purchasing power has also increased, although the amount of the increase would be underreported as our standard of living has increased a lot.
The average house used to cost two yearly salaries. This is no longer the case. Same for most other stuff.

As for re: academics: nobody who care about their personal financial future takes them seriously. Look at what is, not what you are told there is.
The prices of houses have increased in terms of annual salary, however interest rates have decreased dramatically so total housing costs have decreased, plus houses tend to be bigger today then they were in the past so you have a lower housing cost for a bigger house.

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July 13, 2014, 09:38:07 PM
 #104

yeah right I googled that and I found no such thing except one smarmy article that doesn't debunk anything.  Its just an ad hominem article.  Different schools of economics debate each other all the time but post-Keynsian are still from academia and someone like Minksy is getting very influential now that his work theorize why crisis occurs. 

Gravity & round earth are also accepted by academia.  You know whats NOT?  shadowstats & Stefan Molyneux & Rothbard.  They're considered fringe (as in lunatic)

I guess you don't understand Occum's Razor either. 

My general theory in life is don't trust those who benefit more from lying than being honest. You assume the fed can be trusted. You assume if it's mainstream it must be correct, and if it's fringe it must be wrong. The theory that the FED is operating for their own good does not make those ludicrous assumptions. It is only based on the assumption that a man tries to survive as best as possible. Please review Occam's Razor (and spell it right).

http://mises.org/daily/3229
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July 14, 2014, 11:36:46 PM
 #105

It just occurred to me that something very important is missing from this thread.

Define economic growth.

Excellent point.

Also: define inflation (there's monetary inflation and price inflation)

Growth is usually measured by GDP

And inflation measured by CPI and PPI
Correct GDP for inflation. What do the last hundred years look like? Also compare purchasing power of the average household, also corrected for inflation.
The GDP numbers would show slower growth, but it would still show growth. Purchasing power has also increased, although the amount of the increase would be underreported as our standard of living has increased a lot.
The average house used to cost two yearly salaries. This is no longer the case. Same for most other stuff.

As for re: academics: nobody who care about their personal financial future takes them seriously. Look at what is, not what you are told there is.
This brings up another point: yearly salaries.  Things have changed a lot with a lot of households moving from having a single earner to two.  Not only do houses often cost more than 2 yearly salaries, they often cost more than 4 yearly person-salaries.
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July 15, 2014, 10:59:25 PM
 #106

It just occurred to me that something very important is missing from this thread.

Define economic growth.

Excellent point.

Also: define inflation (there's monetary inflation and price inflation)

Growth is usually measured by GDP

And inflation measured by CPI and PPI
Correct GDP for inflation. What do the last hundred years look like? Also compare purchasing power of the average household, also corrected for inflation.
The GDP numbers would show slower growth, but it would still show growth. Purchasing power has also increased, although the amount of the increase would be underreported as our standard of living has increased a lot.
The average house used to cost two yearly salaries. This is no longer the case. Same for most other stuff.

As for re: academics: nobody who care about their personal financial future takes them seriously. Look at what is, not what you are told there is.
This brings up another point: yearly salaries.  Things have changed a lot with a lot of households moving from having a single earner to two.  Not only do houses often cost more than 2 yearly salaries, they often cost more than 4 yearly person-salaries.
I think houses have also gotten bigger in the process.

Who would have thought that if the average house was bigger that the average house would be more expensive?
Erdogan
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July 17, 2014, 06:03:56 PM
 #107

yeah right I googled that and I found no such thing except one smarmy article that doesn't debunk anything.  Its just an ad hominem article.  Different schools of economics debate each other all the time but post-Keynsian are still from academia and someone like Minksy is getting very influential now that his work theorize why crisis occurs. 

Gravity & round earth are also accepted by academia.  You know whats NOT?  shadowstats & Stefan Molyneux & Rothbard.  They're considered fringe (as in lunatic)

I guess you don't understand Occum's Razor either. 

My general theory in life is don't trust those who benefit more from lying than being honest. You assume the fed can be trusted. You assume if it's mainstream it must be correct, and if it's fringe it must be wrong. The theory that the FED is operating for their own good does not make those ludicrous assumptions. It is only based on the assumption that a man tries to survive as best as possible. Please review Occam's Razor (and spell it right).

This is good, but I want to point out as a precondition (I suppose you know this) you have to think that the USG is some persons, different from you. You are not USA. The vast military is not yours, it is theirs. It is not you who control the currency, it is they. It is not you who govern the country through the servants you voted in. It is they who govern you. You do not pay taxes to yourself, you pay it to them. Nothing can be learned about the currency, the debt, the interest rate, the inflation, the bank system and so on, unless this is known.
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