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You are real good at putting word in people's mouths. All I have stated is there have been times in history when recessions and inflation have coexisted. It has happened frequently in Latin America. Governments, once again the textbook example is pre-Hitler Germany, can attempt to print money to combat depressions or recessions and fail.
If you want facts, 1970s. You have recession plus Cost Inflation and Real Inflation (10%-12% annually).
You can also look at the post-WW I Era where you have Real Inflation running annually about 15%-25% (it fluctuated wildly) and then the 1925 Recession.
You also had Real Inflation plus Cost Inflation due to the 1st Great Depression of the 19th Century and the major drought in the Southeast leading up to 1859 and the Civil War where Real Inflation was running about 50% to as much as 150% annually at some points.
It's really hard to tell there. Because banks were State-chartered, the value of money varied greatly from city-to-city, State-to-State and region-to-region. They used to publish magazines that showed all of the various currencies printed by all of the State banks and their values.
Congress issued "Greenbacks" in 1862, and again in 1863, in an attempt to pay for the Civil War by inflating away their debt. Greenbacks caused Real Inflation in excess of 70% on top of already existing Real Inflation and Cost Inflation, so inflation as a whole (both Real and Cost Inflation) was running at times in excess of 100% on average, but it approached 200%-300% in some parts of the North.
It was Lincoln who pushed the National Banking Acts of 1863 and 1864 to get rid of the Greenbacks.
Lincoln was pretty smart. He's the one who came up with the 10% tax on State-chartered bank-notes to get rid of them and to also force State-chartered banks to convert to nationally-chartered banks, and then in order to issue bank-notes you had to put money on deposit with the Comptroller.
That did a lot to help control Real Inflation.
During the Great Depression you had Real Deflation, but near the start of WW II (in Europe) you had Wage Inflation because the US ran out of workers in some sectors of the economy. A ship-yard in Philadelphia that made ships for Japan, Italy, Germany, Spain, Britain and France ran out of workers and had to open a ship-yard in Charleston, South Carolina just to fill its orders. That was early 1939 or so.
Anyway, you're right, you can have a recession/depression with Real Inflation or a recession/depression with Real Deflation....it all depends on the root cause of the recession/depression and very obviously the root cause is different in every instance.
Supporting...
There was more to cheer about from the service sector, which employs 90 percent of all Americans.
The Institute for Supply Management reported that U.S. service companies grew at a slightly faster pace in July. The ISM's services index rose to 52.6 from 52.1 in June, which was the lowest reading since January 2010.
Any reading above 50 means that business is growing for service providers.
The good economic news caused investors to sell low-risk assets like U.S. government debt. Source
Interesting.
An improving economy will certainly hamper Romney's message.
it is very good news.
now bernanke will have no reason whatsoever to engage in another round of quantitative easing.
i was worried that he might try something underhanded like that, but now i guess he can't.
now bernanke will have no reason whatsoever to engage in another round of quantitative easing.
i was worried that he might try something underhanded like that, but now i guess he can't.
I haven't seen anything to indicate he's specifically ruled it out. I believe the Boston Fed President wants more aggressive measures now, though he's a non-voting member until next year.
Things have changed significantly since 2008. What has not changed is the attitude of Republicans. In general the Republican attitude is pre-disposed to failure. The Republican doesn't think anything can be done until it is done (proven).
"For the index to significantly improve, Republicans will need to have a more optimistic outlook on the economy. However, with the ongoing presidential campaign, there may be little immediate chance of narrowing the partisan gap." Source - Gallup Economic Confidence Index
Best quote EVER. All we need is optimism from Republicans for the economy to improve. Yes, the sheer force of optimism cures all economic woes. So funny. We should require all registered Republicans to chant " The economy is great" in unison at least once per day. That'll fix things. Once they're done with fixing the economy, maybe they can work on global warming.
Best quote EVER. All we need is optimism from Republicans for the economy to improve. Yes, the sheer force of optimism cures all economic woes. So funny. We should require all registered Republicans to chant " The economy is great" in unison at least once per day. That'll fix things. Once they're done with fixing the economy, maybe they can work on global warming.
Interesting.
Watching Republicans revel in the quagmire of sentiment that seeks the constant failure of Americans is revealing. It's strange knowing today's Republican only feels success if society is failing around him and he's had some part in cheering it's demise.
Optimism from Republicans would improve the index. lol...
No one believes the Republicans improve economies. Not even Wall Street performs better under Republican president's.
Watching Republicans revel in the quagmire of sentiment that seeks the constant failure of Americans is revealing. It's strange knowing today's Republican only feels success if society is failing around him and he's had some part in cheering it's demise.
Optimism from Republicans would improve the index. lol...
No one believes the Republicans improve economies. Not even Wall Street performs better under Republican president's.
Some (on both sides of the aisle) think failure of the other side's policies equals their success. Most do not. Most people don't cheer for failure because it's against their best interests. Like having a job and feeding their family. Most people (Rs and Ds) want the ecomony to improve and don't give a rats who made it happen. Problem is the jury is still out. Some sign are good, while others are not. It's too early to declare victory.
And yes, my point was to LOL at the quote you posted. No LOL or sarcastic face on your original post, so I concluded you believed that drivel. Apologies if that's not so.
Some (on both sides of the aisle) think failure of the other side's policies equals their success. Most do not. Most people don't cheer for failure because it's against their best interests. Like having a job and feeding their family. Most people (Rs and Ds) want the ecomony to improve and don't give a rats who made it happen. Problem is the jury is still out. Some sign are good, while others are not. It's too early to declare victory.
And yes, my point was to LOL at the quote you posted. No LOL or sarcastic face on your original post, so I concluded you believed that drivel. Apologies if that's not so.
No need to apologize. I'm neither interested nor have any care for opinions of me. They're useless and irrelevant and simply discarded as such.
Your qualms are with the Gallup Economic Confidence Index. It should come as no surprise to any that Republicans are pessimistic in light of the negative tone of the leadership and the constant drumbeat of "failure equals success".
Quote:
"For the index to significantly improve, Republicans will need to have a more optimistic outlook on the economy. However, with the ongoing presidential campaign, there may be little immediate chance of narrowing the partisan gap." Source - Gallup Economic Confidence Index
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lol...
