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Old 07-23-2008, 04:55 AM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 21,901,138 times
Reputation: 3587

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Quote:
Originally Posted by mojo_1979 View Post
We all know that the government CPI understates inflation rather dramatically, but even the CPI is projected to reach 8% by the end of 2008.

Moore Inflation Predictor © (MIP) from Financial Trend Forecaster (http://fintrend.com/ftf/mip.asp - broken link)

Moore Inflation Predictor Chart
I am afraid that is probably on the low end of where real inflation may end up.
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Old 07-23-2008, 03:27 PM
 
Location: America
6,987 posts, read 15,766,746 times
Reputation: 2073
Quote:
Originally Posted by evilnewbie View Post
Didn't you hear what Bush had to say? Not to worry.. there is NO problem... don't mind the eviction notice, repo man, and bill collectors... everything is okay... we all are okay.. Just remember to overspend like Bush says... Don't you feel better now that Bush has told you are doing okay... Its not like the government has ever lied before...
ROFL, man this should be a quote on a shirt!
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Old 07-23-2008, 03:34 PM
 
Location: America
6,987 posts, read 15,766,746 times
Reputation: 2073
Quote:
Originally Posted by Humanoid View Post
This conversations about inflation go no where because nobody agrees on definitions. Some equate "inflation" with "prices going up", others are speaking from a Keynesian perspective (like Mircea here with his "different sorts of inflation") and yet others are speaking from a more Monetarist/Austrian perspective.
no one here agrees on definitions and such because, few here know what they are talking about. You can not go around making up definitions and your own little quirks about what is or isn't. People must first consult economic principles and standards, find out what is the meaning of x, y and z. Once the principles and universally accepted definitions are in place, then come here and debate based on sound principles and indisputable facts. Well, I guess that is asking for to much, seeing as how that would be counter intuitive to the nature of these sorts of forums.

Just so you don't come back and attack me. Basically, I am saying I agree with you 100%.

Last edited by Wild Style; 07-23-2008 at 04:57 PM..
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Old 07-23-2008, 04:40 PM
 
Location: Ohio
21,311 posts, read 15,089,573 times
Reputation: 17741
Quote:
Originally Posted by Humanoid View Post
This conversations about inflation go no where because nobody agrees on definitions. Some equate "inflation" with "prices going up", others are speaking from a Keynesian perspective (like Mircea here with his "different sorts of inflation") and yet others are speaking from a more Monetarist/Austrian perspective.
You mean uneducated people don't agree on definitions. I'm quoting right out of classical economics.

How did Nixon and FDR know that implementing Wage & Price Freezes would halt inflation? Did they just guess? Or where they relying on well-defined causes of inflation, looked to see what actually was driving inflation and then took action that was appropriate?

And inflation is "prices going up." When the value of anything is inflated, it is reflected through an increase in price.

Absent banking systems and money, inflation still occurs. If there's a shortage of wheat, why should I give you a bushel of wheat for 2 chickens, when someone else will pay me 3 chickens?

Even if there isn't a shortage of wheat, if John the Stalwart is willing to pay me 3 chickens for a bushel of wheat while you won't pay more than 2 chickens, I'll sell it to John the Stalwart because it benefits me.

There's always natural inflationary pressure on prices, but other conditions can exacerbate it.
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