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Wrong Ken......GDP to debt ratio has nothing to do with hyperinflation......but leave it to you to ensure people are thoroughly confused, misled and misinformed.
For those interested in reality....
1] Zimbabwean Dollar: not accepted internationally. Accepted by some border States. Zimbabwean government printed far more Zimbabwean Dollars than the sum total of the goods and services produced by Zimbabwe.
In other words a State like Zimbabwe only wants enough currency in circulation to match their GDP....anything less than that causes Real Deflation, and anything more than that causes Real Inflation.
It causes Real Inflation because you have more dollars chasing fewer goods. It isn't that the goods and services are worth more, rather the currency is worth less.
When Real Inflation exists....wages/salaries increase.
2] Wiemar Republic: German Mark is internationally traded, but only held by former German colonies China --- now under control of the US and Britain -- and former German colonies in Africa. The government prints far more Marks than the sum total of Germany's GDP, all Marks held in reserve by foreign banks, and all Marks used in international trade.
And that's an understatement.
3] US: US Dollar is used as an international reserve currency, plus is/was the de facto international currency of trade. The money supply has to exceed US GDP and reserve currency amounts and international trade amounts.
As I have said repeatedly over and over and over it will take about $9 TRILLION to $13 TRILLION excess Dollars to trigger Real Inflation, and the most likely time you will reach saturation point is about 10-11 years from now.
The US government artificially increased the money supply with LBJ's Grotesque Society, Vietnam War, the Apollo Program and all of the clandestine activities in which the US was engaged over-throwing governments.
That led to 10% average annual Real Inflation in the late 1960s and early 1970s lasting until about 1986 wen Reagan and Volker finally got of the excess currency pulled out of circulation.
Someone printed a laundry list.....
Barrel of oil 314.80%
Fuel oil per gallon 242.00%
Electricity per Kwh 59.50%
Gas per therm 51.40%
Dozen eggs 106.20%
Coffee per lb 52.90%
Ground Beef per lb. 96.30% Postage stamp 48.50%
Movie ticket 95.20%
New car 55.20%
Annual healthcare 104.40%
...proving irrefutably that there is no Real Inflation.
Well, Ken, if you had modernized those formerly backward 3rd world nations when you had the chance, you wouldn't be in this mess.....but, then, of course, you'd be using the internet via the comfort of your local internet cafe, since you wouldn't be able to afford it yourself.
Wrong, Ken.
We saw this in the 1920s causing the 1925 Recession, the 1928 Recession, the 1930 Recession, the 1934 Recession, the 1937 Recession, the 1946 Recession, the 1949 Recession, and all three recessions during the Eisentyrant Administration 1953-1960, plus the Nixon Recession.
Your Surplus Labor was absorbed by moving into the latter phases of the 2nd Level Economy, and then into the 3rd Level Economy with the advent of the transistor and plastics and then finally the 4th Level Economy.
People just like you destroyed the US Education System preventing it from advancing into the 5th Level Economy and absorbing your Surplus Labor.
Chanting "1%!" over and over is not dealing with it.
Um, Seasonally Adjusted = Magical Fairy Numbers.
Adjusting Seasonally Adjusted numbers only impresses the not-too-bright.
Wrong Ken.
In July 2007 there were 147,315,000 employed.
As of now, there are 147,104,000 employed.
In July 2007 123,219,000 Americans worked Full-Time.
As of now, there are 119,472,000 Americans employed Full-Time.
Um, to make this Fail even funnier, the number of Americans age 55+ looking for Part-Time work is 324,000.
On the other hand, 1.14 Million Americans 55+ are looking for Full-Time work.
Your lack of win is disturbing...
Mircea
Blah, blah, blah, blah, blah - I'm not responding to all that verbal diarrhea.
I will respond to the last point though. Number of people in the labor force is NOT the same as "# of jobs" because some people have more than one job. Those are 2 DIFFERENT statistics without a 1-1 correlation.
So where are you getting these numbers? - provide a link if you expect anyone to believe them. From what I see on the BLS archive data, July had 146,110,000 employed - NOT 147,315,000 so it looks to me like your starting number is inflated by 1,205,000.
Blah, blah, blah, blah, blah - I'm not responding to all that verbal diarrhea.
I will respond to the last point though. You are right that's Obama has not recovered ALL the jobs lost in the GREAT RECESSION. I should have to those that occured on HIS WATCH. We've more than the recovered the number of jobs lost since Obama came into office and are now in the process of recovering the jobs lost by Bush.
Happy?
Ken
Yes the economy is peachy, Ken. Just peachy. We've never been lead better by our president: united, prosperous, safe, secure, hopeful for the future of our kids. Yeah, Obama. What more can anyone want?
the problem is the wrong type off jobs are being created to replace those list. These jobs don't offer benefits and a living wage. They are begging for pubic assistance such as Medicaid and food stamps or basic income to offset
Most people would regard that as a decline, not a recovery.
Yes the economy is peachy, Ken. Just peachy. We've never been lead better by our president: united, prosperous, safe, secure, hopeful for the future of our kids. Yeah, Obama. What more can anyone want?
See that's where you can ALWAYS tell a wingnut. They ONLY seem to understand extremes: "If things are not terrible, they must therefor be 'peachy'". Common sense people understand that there's plenty of room IN BETWEEN those 2 extremes.
See that's where you can ALWAYS tell a wingnut. They ONLY seem to understand extremes: "If things are not terrible, they must therefor be 'peachy'". Common sense people understand that there's plenty of room IN BETWEEN those 2 extremes.
Ken
Gee, Ken, is it the "wingnut" who is reactionary? I'm not the one calling names and getting hysterical while shouting(with caps) at rational, fact based retorts on a message board.
Last edited by texan2yankee; 07-03-2014 at 06:37 PM..
Sure, Ken, it is the "wingnut" who is reactionary. I'm not the one calling names and getting hysterical while shouting(with caps) at rational, fact based retorts on a message board.
What's "rational" about going from one extreme to the other.
Real life doesn't work that way, and rational people don't think that way.
If you want a rational response, make a rational post.
Learn to read.
I've already gone over the fact that those jobs "lost" were in the SEASONALLY ADJUSTED data - not the actual numbers. The actual (non-seasonally adjusted numbers reflect a roughly 300,000 job gain). The guys at zerohedge were looking at those SEASONALLY ADJUSTED numbers NOT the ACTUAL NUMBERS.
Of course they didn't TELL YOU that they were using seasonally adjusted numbers - either because they don't like what the actual non-seasonally adjusted numbers say (300,000 job gain) or they think their readers are too stupid to understand the difference (you tell me WHICH of those 2 scenarios is the case).
Ken
Quote:
Originally Posted by LordBalfor
02-05-2013, 11:44 AM
Anyone who doesn't understand the value of "seasonally adjusted" data has no business putting forth any opinion on economics. Seasonally adjusting data is a standard economic practice used by statisticians, economists and business leaders all over the world - not just in government but in private business as well. Here is just ONE example of how and why seasonally adjusted numbers are often used. If you can't see the value in seasonally asjusted data after reading this simple example it's time for you to be put on "ignore".
"...The ice cream industry tends to have a large level of seasonality as it will sell more ice cream in the summer than in the winter. By using seasonally adjusted sale rates, the sales in the summer can be accurately compared to the sales in the winter."
What's "rational" about going from one extreme to the other.
Real life doesn't work that way, and rational people don't think that way.
If you want a rational response, make a rational post.
Ken
Some people are so emotional. Ya can't even talk with 'em.
That's what happens when you have an aging population.
From 2010:
"A record number of Americans will be eligible to retire next year, putting an unprecedented amount of stress on our nation's health-care system and challenging many social service programs, businesses and units of government. Whether or not these "golden years" are tarnished by out-of-control health care costs and shortages in services depends greatly on our understanding of and preparation for what lies ahead.
Nearly 77 million Americans who were born between 1946 and 1964—referred to as baby boomers—will enter their retirement years starting in 2011 and are expected to live longer than previous generations. Baby boomers will be part of the fastest growing segment of the population for the next 30 years and will most likely need long-term health-care service options after age 85.
According to the U.S. Census Bureau, by 2020 the number of people across the nation age 85 and older will increase by more than 40 percent. By 2050, estimates show another 118 percent increase in that age group..."
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