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Sept. 16 (Bloomberg) -- Reports on industrial production and consumer prices today showed the U.S. economy is emerging from the economic slump without spurring inflation.
Output at factories, mines and utilities climbed 0.8 percent last month, exceeding the median estimate of economists surveyed by Bloomberg News, data from the Federal Reserve in Washington showed. The Labor Department said the cost of living climbed 0.4 percent, and was down 1.5 percent from August 2008.
I wouldn't trust the data. Remember, dollar bills are not dollars. See Title 12 USC sec. 411.
Dollar bills are variables, not constants. You can't make a definitive measurement when your unit of measure is a variable.
A unit dollar, pursuant to law is a one ounce coin with no less than .77 ounce of pure silver. A one ounce gold coin is equivalent to 20 unit dollars. See Coinage Act of 1792.
With gold topping 1021 dollar bills / ounce, that computes to a ratio of roughly 51:1 exchange rate.
With silver at 17.68 dollar bills / ounce, that computes to a ratio of roughly 13.6 : 1 exchange rate.
Since silver was demonetized in 1873 (Coinage Act of 1873), we'll be forced to calculate values with gold.
The national debt, in excess of 11.8 trillion dollars (not dollar bills) is an obligation to pay the creditor 590 billion ounces of gold stamped into coin. Fort Knox depository has only 147.3 million ounces. Uh oh. (World wide above ground supply is only 5.5 billion ounces)
At current gold prices, the national debt would require 601 trillion dollar bills to buy the gold - if it existed.
This impossible debt cannot be questioned, pursuant to the 14th amendment, clause 4.
I think the only stat I'm interested in is seeing unemployment back way down to 3-4% from almost 10% now and the number of employees losing their jobs back way down from what was it...over 300K last month?
Sept. 16 (Bloomberg) -- Reports on industrial production and consumer prices today showed the U.S. economy is emerging from the economic slump without spurring inflation.
Output at factories, mines and utilities climbed 0.8 percent last month, exceeding the median estimate of economists surveyed by Bloomberg News, data from the Federal Reserve in Washington showed. The Labor Department said the cost of living climbed 0.4 percent, and was down 1.5 percent from August 2008.
Yep, that's good news. Weak, but at least it's moving in the right direction. Now as long as we don't do something really stupid like pass Cap and Trade, the trend should continue until commodities tighten up again and housing prices increase.
in my opinion it is wishful thinking. the only way to have economic growth without causing inflation is if growth is caused by increased productivity and investment, because then the productive capacity of the economy can increase at the same rate as aggregate demand.
we are having government growth, not private growth and increased actual productivity. a lot of the gain was cash for clunkers, a government program, and government stimulus money. how is that sustainable?
in my opinion it is wishful thinking. the only way to have economic growth without causing inflation is if growth is caused by increased productivity and investment, because then the productive capacity of the economy can increase at the same rate as aggregate demand.
we are having government growth, not private growth and increased actual productivity. a lot of the gain was cash for clunkers, a government program, and government stimulus money. how is that sustainable?
It isn't IMO and the inflation is more of a ticking time bomb. We're attempting to continue exporting our inflation, but I'm not sure other countries will continue to bite. It's no coincidence that precious metals are spiking and gold is at an all time high.
Sept. 16 (Bloomberg) -- Reports on industrial production and consumer prices today showed the U.S. economy is emerging from the economic slump without spurring inflation.
Output at factories, mines and utilities climbed 0.8 percent last month, exceeding the median estimate of economists surveyed by Bloomberg News, data from the Federal Reserve in Washington showed. The Labor Department said the cost of living climbed 0.4 percent, and was down 1.5 percent from August 2008.
Yup. Recovery is on the way.
The only questions are:
How fast, how strong?
Ken
Mixed news today. Single family housing starts are down 3% just from last month. MF are up however. Less new jobless claims but more continuing claims. This is called the bottom. Ken is right to ask how fast and how strong because we may just plug along the bottom for a great while.
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