Gary

Herkimer, NY

#21 Sep 10, 2012
lpool wrote:
Too bad Gary isn't around on this thread. There's no inflation. Just ask the government. The comrade in chief wouldn't lie to us.
It's actually difficult to decide in which way you're wrong, but I'll go with this as an opener:

"The BLS publishes thousands of CPI indexes each month, including the headline All Items CPI for All Urban Consumers (CPI-U) and the CPI-U for All Items Less Food and Energy. The latter series, widely referred to as the "core" CPI, is closely watched by many economic analysts and policymakers under the belief that food and energy prices are volatile and are subject to price shocks that cannot be damped through monetary policy."

http://www.bls.gov/cpi/cpiqa.htm

Not only did I most certainly not say there was no inflation, but in the number you're referring to, the price of oil/gas is not included. Nice try.
Gary

Herkimer, NY

#22 Sep 10, 2012
TANSTAAFL wrote:
<quoted text>
Don't bother reading this...just another Lib report on why we are supposed to think that $4 a gallon has isn't really all that bad.
Did the price of oil go up 300% under a "Lib" or under George W. Bush? Hmmm. Seems to me the latter.
Gary

Herkimer, NY

#23 Sep 10, 2012
TANSTAAFL wrote:
If that is all the macroeconomics you got for your mail order MBA then I suggest you petition the school to get your money back.
The policies of the Federal Reserve, and your personal saviour Obama, have massively expanded the money supply, thus massively inflating the price of commodities.
I almost spit out my coffee laughing at this. First of all, the Federal Reserve is independent of the government. Obama has absolutely no control over the money supply whatsoever. Nor has any other President controlled it. Secondly, the price of oil in January 2001, when Curious George took office, was $28.66. The average price for that year was $23. The average price for 2008 was $91.48. It reached a high of $125, five times higher than it was when Bush took office.(I'm sure invading Iraq had nothing to do with any of this!)

All Obama's fault, too, right? You people are hilarious.
Gary

Herkimer, NY

#24 Sep 10, 2012
TANSTAAFL wrote:
<quoted text>
"Price adjusted price" What the heck is that supposed to mean? Go back to your mint julep and leave the economics to the big boys and girls, okay?
You mean the big boys who don't even know the federal reserve is independent?
Gary

Herkimer, NY

#25 Sep 10, 2012
TANSTAAFL wrote:
<quoted text>
The LFGaloot, aka LFFool, calling a J.D/Ph.D a nitwit, excellent!!
You're a J.D./Ph.D.? Talk about asking the school for your money back...
TANSTAAFL

Little Falls, NY

#26 Sep 10, 2012
Gary wrote:
<quoted text>
I almost spit out my coffee laughing at this. First of all, the Federal Reserve is independent of the government. Obama has absolutely no control over the money supply whatsoever. Nor has any other President controlled it. Secondly, the price of oil in January 2001, when Curious George took office, was $28.66. The average price for that year was $23. The average price for 2008 was $91.48. It reached a high of $125, five times higher than it was when Bush took office.(I'm sure invading Iraq had nothing to do with any of this!)
All Obama's fault, too, right? You people are hilarious.
Which do you have Gary, a reading or comprehension deficiency? I'll walk you through this step-by-step so you don't fall behind, okay? BTW, you spew the same apples to oranges comparisons as most libs "when Bush took office XYZ was this, when he left office XYZ was that, see how much he sucks!!!!" Obama is still in office so please try to compare like time periods, got it?

I did not state that the Fed is controlled by the President, I stated that the POLICIES of the Fed and the POLICIES of the President have both contributed to a massive expansion of the money supply. When the money supply increases, its value decreases. When the value of the dollar goes down, the price of commodities go up. Follow me so far?

Energy commodities up 18% since inauguration.
Grains up 18% same time period. Industrials up 12%. Meats up 12%.
Softs (coffee, sugar etc...) up 24%. Metals up 18%. You were aware that crude oil is not the only commodity in the world, right Gary? WAKE UP GARY, PUT THE BONG DOWN!!

US $ supply (money supply Gary, okay?) at INAUGURATION right around $5 trillion. US $ supply today, right around $14.3 trillion.

lpool

United States

#28 Sep 10, 2012
The government would never lie. Just ask Gary.
NFN

Little Falls, NY

#29 Sep 10, 2012
TANSTAAFL wrote:
US $ supply (money supply Gary, okay?) at INAUGURATION right around $5 trillion. US $ supply today, right around $14.3 trillion.
Not for nothing, but many economists would argue that flooding the economy with liquidity may have saved the economy from collapse. Of course, economists come in different denominations, kind of like Catholics and Protestants, so some economists think that fiscal policy is devil worship, while others think monetary policy is idolatry. So which god of economics do you worship?
Gary

Herkimer, NY

#31 Sep 10, 2012
lpool wrote:
The government would never lie. Just ask Gary.
Still can't let go of the fact that I proved you wrong, huh?
Gary

Herkimer, NY

#32 Sep 10, 2012
"The growth in the U.S. M2 since the beginning of 2009 has been almost 2/3's less than it was from 1996 through 2008."

That should read 1/2, sorry.
TANSTAAFL

Little Falls, NY

#33 Sep 10, 2012
NFN wrote:
<quoted text>
Not for nothing, but many economists would argue that flooding the economy with liquidity may have saved the economy from collapse. Of course, economists come in different denominations, kind of like Catholics and Protestants, so some economists think that fiscal policy is devil worship, while others think monetary policy is idolatry. So which god of economics do you worship?
Neuroeconomics. Studied under Kahneman but I wouldn't say I worship him.
Gary

Herkimer, NY

#34 Sep 10, 2012
TANSTAAFL wrote:
<quoted text>
Neuroeconomics. Studied under Kahneman but I wouldn't say I worship him.
I'm sure he feels the same way. And don't embarrass the poor fellow for blaming him for educating you.
TANSTAAFL

Little Falls, NY

#35 Sep 10, 2012
Gary wrote:
<quoted text>
I'm sure he feels the same way. And don't embarrass the poor fellow for blaming him for educating you.
Sorry Gary, I stopped reading your post after the word "I'm" because I know everything after that is the nonsense that leaks out of your little brain.
Huh

Little Falls, NY

#36 Sep 10, 2012
TANSTAAFL wrote:
<quoted text>
Neuroeconomics. Studied under Kahneman but I wouldn't say I worship him.
Err ... I'm stumped. What is that beyond behavioral economics?
TANSTAAFL

Little Falls, NY

#37 Sep 10, 2012
Huh wrote:
<quoted text>
Err ... I'm stumped. What is that beyond behavioral economics?
I wouldn't say beyond but it definitely grew out of behavioral.

Here's a free 500+ page book in it, enjoy!

http://www.scribd.com/doc/36092064/Neuroecono...
Gary

Herkimer, NY

#38 Sep 10, 2012
TANSTAAFL wrote:
<quoted text>
Sorry Gary, I stopped reading your post after the word "I'm" because I know everything after that is the nonsense that leaks out of your little brain.

I accept your capitulation. Have a bad day.
LOL

Herkimer, NY

#39 Sep 10, 2012
TANSTAAFL wrote:
<quoted text>
Neuroeconomics. Studied under Kahneman but I wouldn't say I worship him.
My favorite part of every lower-division economics class (micro, macro) was how, for a one or two lectures at the beginning of the semester, the professor and the textbook would try to convince us that economics is a real science. All of the science majors in the class would giggle and chortle. Sadly we all seemed to get that question wrong on the quiz.

It sounds like this 'neuroeconomics' is really swinging for the fence in the 'let's pretend we are a science' game!

That said, I will read about it as soon as I have a bit of time, because I do think there is a LOT of real value to be found in behavioral approaches to economics and finance, etc.
snider remark

Little Falls, NY

#40 Sep 19, 2012
when the price of gasoline is $4.20 a gallon; then we will realize that the oil companies are indeed celebrating hitler's birthday
Sarah Ballpalsy

Herkimer, NY

#41 Sep 19, 2012
snider remark wrote:
when the price of gasoline is $4.20 a gallon; then we will realize that the oil companies are indeed celebrating hitler's birthday
Yes, the price of gas is $4.20, and Mitt Romney thinks the CEO of ExxonMobil needs a tax cut. Ain't life grand?
TANSTUPID

Herkimer, NY

#42 Sep 19, 2012
TANSTAAFL wrote:
<quoted text>
Which do you have Gary, a reading or comprehension deficiency? I'll walk you through this step-by-step so you don't fall behind, okay? BTW, you spew the same apples to oranges comparisons as most libs "when Bush took office XYZ was this, when he left office XYZ was that, see how much he sucks!!!!" Obama is still in office so please try to compare like time periods, got it?
I did not state that the Fed is controlled by the President, I stated that the POLICIES of the Fed and the POLICIES of the President have both contributed to a massive expansion of the money supply. When the money supply increases, its value decreases. When the value of the dollar goes down, the price of commodities go up. Follow me so far?
Energy commodities up 18% since inauguration.
Grains up 18% same time period. Industrials up 12%. Meats up 12%.
Softs (coffee, sugar etc...) up 24%. Metals up 18%. You were aware that crude oil is not the only commodity in the world, right Gary? WAKE UP GARY, PUT THE BONG DOWN!!
US $ supply (money supply Gary, okay?) at INAUGURATION right around $5 trillion. US $ supply today, right around $14.3 trillion.
I replied to this days ago, but apparently it got deleted. You are one terrible economist. What do you mean by "money supply"? Certainly not M2, which is what economists use to quantify the amount of money in circulation. That stands right now at $10 trillion, not $14.3, and it was not $5 trillion at inauguration, but rather $8.2 trillion. So you're 0-3.

http://www.federalreserve.gov/RELEASES/h6/Cur...

http://www.federalreserve.gov/releases/h6/200...

I know you're frustrated. I would be, too, if I were as ill-informed you. But the bluster doesn't do you any good. You have to be smart to be condescending. Seriously, ask for your money back.

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