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Old 12-17-2008, 01:26 PM
 
19,084 posts, read 20,640,162 times
Reputation: 8353

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They have a picture of a hand holding a TINY dollar... and then called it "deflation"... the image is more of inflation as the value of the dollar is devalued each year... If they want a deflation dollar, it would mean you can buy MORE with your dollars... the picture should be a gigantic size dollar not a tiny one... the fear of deflation isn't that it hurts consumers (cause consumers make out like bandits) but that businesses suffer and fire people and there are less jobs around (but the consumers win BIG)... however I don't see any signs of deflation... sure there are massive firings and high unemployment but I have yet to see a decrease in 17%+ increase in food prices (my own calculation based on previous purchases at my local grocery store)... gas is cheaper but not because of deflation (less people are buying gas and that's driving down demand)... so what IS cheaper? Computers and electronics pretty much cost the same or a bit more... clothing is cheap (if it sucks or is old) but hasn't that always been the case? So where are the cheap but great products as a result of deflation? House prices are dropping but that's because they are STILL overpriced...They keep reporting the drop in prices for consumer products but I am not seeing it, are YOU?
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Old 12-17-2008, 02:13 PM
 
Location: Los Angeles Area
3,306 posts, read 3,553,414 times
Reputation: 592
Hmm....yeah I just saw that picture. Pretty stupid.....

But seriously, it should be pretty obvious at this point that the financial media is basically either corrupt or filled with idiots.
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Old 12-17-2008, 02:18 PM
 
Location: Chicago, Illinois
3,047 posts, read 8,269,778 times
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Old 12-17-2008, 03:22 PM
 
16,092 posts, read 37,229,544 times
Reputation: 6280
I think CNN has mostly idiots. I try to watch "In the Money" and "Open House" on the weekends. They are both pretty useless, I don't know why I bother. Bloomberg, CNBC and Fox Business (I like the Saturday morning shows but they are mostly entertainment) are more informative - especially if you can stay up late or get up early and watch the Asian and European versions.
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Old 12-17-2008, 05:12 PM
 
Location: Los Angeles, Ca
2,884 posts, read 5,288,772 times
Reputation: 2737
An even better image...show a chart of the US dollar's decline since the Federal Reserve was founded in 1913.

And watch the decline accelerate as the "maestro" and helicopter ben took the helm.
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Old 12-17-2008, 06:50 PM
 
Location: Hope, AR
1,505 posts, read 2,853,581 times
Reputation: 248
A CNN anchor gave terrible financial advice a few days ago. She had some Suze Orman clone as her guest, and they were talking about credit card debt. The anchor glibly recommended people to "cancel their credit cards"--I guess she doesn't know that your FICO score will drop if you do that. The correct action is to keep the card open but stop using it.


Quote:
Originally Posted by Lakewooder View Post
I think CNN has mostly idiots. I try to watch "In the Money" and "Open House" on the weekends. They are both pretty useless, I don't know why I bother. Bloomberg, CNBC and Fox Business (I like the Saturday morning shows but they are mostly entertainment) are more informative - especially if you can stay up late or get up early and watch the Asian and European versions.
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Old 12-17-2008, 08:44 PM
 
Location: Fort Myers Fl
2,305 posts, read 2,749,372 times
Reputation: 917
I can honestly say I have not watched CNN in over a year. Infact I don't watch any of the news channels. I have CNBC on during the day and watch Fast Money every afternoon. I read the WSJ everyday and the local paper. Bloomberg TV is also good. Most off my news sources are on the internet. Sorry I missed that one.

I try to stay away from all the doom and gloom. Always found out not a lot that I can do to change things anyway. Hard to keep a positive attitude when you are surrounded by everything negative.
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Old 12-18-2008, 08:35 PM
 
Location: Marietta, GA
7,858 posts, read 15,195,854 times
Reputation: 3566
Quote:
Originally Posted by evilnewbie View Post
So where are the cheap but great products as a result of deflation? House prices are dropping but that's because they are STILL overpriced...They keep reporting the drop in prices for consumer products but I am not seeing it, are YOU?
My wife and I have been discussing this same point. Other than energy and housing, we haven't noticed any real price deflation. Groceries, which shot up during the spring and summer supposedly due to rising energy costs have not come down in any noticeable way. Clothing has been a little less expensive, but mainly due to Christmas sales as desperate retailers try to dump excess inventories.
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