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Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,752,651 times
Reputation: 3587
Quote:
Originally Posted by SilverOne
In terms of depth, year-to-year decline in the gross domestic product, or GDP, as reported in the third quarter of 2009, was the steepest annual decline ever reported in that series, which goes back to the late '40s on a quarterly basis. Other than for the shutdown of war production at the end of World War II, which usually is not counted as a normal business cycle, the full annual decline in 2009 GDP was the deepest since the Great Depression. There's strong evidence that we're going to see an intensified downturn ahead, but it won't become a great depression until a hyper-inflation kicks in. That is because hyper-inflation will be very disruptive to the normal flow of commerce and will take you to really low levels of activity that we haven't seen probably in the history of the Republic.
Yes...Hyper inflation. That explains precisely why prices for various key commodities, such as real estate, and gasoline are lower then they were 2 years ago and why the CPI, in 2009, fell for the first time since 1955.
Honestly if we were in for hyper inflation in just a bit real estate prices would be booming because land keeps its value extremely well during periods of inflation and we are clearly not seeing that.
Last edited by Randomstudent; 05-03-2010 at 06:32 PM..
Yes...Hyper inflation. That explains precisely why prices for various key commodities, such as real estate, and gasoline are lower then they were 2 years ago and why the CPI, in 2009, fell for the first time since 1955.
Worse, yet...CBO projects that the CPI could soar as high as an out-of-control 2% per annum by the year 2020...
In terms of depth, year-to-year decline in the gross domestic product, or GDP, as reported in the third quarter of 2009, was the steepest annual decline ever reported in that series, which goes back to the late '40s on a quarterly basis. Other than for the shutdown of war production at the end of World War II, which usually is not counted as a normal business cycle, the full annual decline in 2009 GDP was the deepest since the Great Depression. There's strong evidence that we're going to see an intensified downturn ahead, but it won't become a great depression until a hyper-inflation kicks in. That is because hyper-inflation will be very disruptive to the normal flow of commerce and will take you to really low levels of activity that we haven't seen probably in the history of the Republic.
It's cool. I haven't had a good laugh at other peoples' expense since the housing bubble started to implode in 2008, and I'm due for one in about a year or two. See...even Obama was laughing at them!
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