What is Digg?188 Comments
- lordzevo21, on 05/11/2009, -17/+103Do you have any idea what you're talking about? I recommend reading Peter Schiff's "Crash Proof". You have no idea how bad it's going to get. Although I guess that's what the far left ideally wants: another crisis to exploit. Just as the Bush administration did with 9/11/Afghanistan/Iraq, Obama&CO will hold a gun to our collective heads demanding more government authority to "deal" with the problem. Ladies and gentlemen, it's not a RED problem or a BLUE problem, but a PURPLE problem. There is too much government in our wallets and bedrooms.
- inactive, on 05/11/2009, -6/+57But you have been telling me for months that there won't be any inflation.....
Do you have an ounce of common sense?
Is it moral to inflate our way out of debt knowing that it will destroy the life insurance, social security, and investments of poor and middle class people?
Like you would care...... - brbeaird, on 05/12/2009, -2/+45You can't print off trillions of dollars in a month and expect no negative consequences. We're all going to pay for it one way or another.
- inactive, on 05/11/2009, -2/+37Wrong again. oil prices going up without increased demand. http://www.oil-price.net/index.php?lang=en
- StingingNettle, on 05/12/2009, -5/+31Can't say you haven't been warned.
- govsucks, on 05/11/2009, -17/+43Yep, Obama has already made plans for a 1k bill with his picture on it.
- Doubledown, on 05/12/2009, -4/+27You can easily add Ron Paul and Peter Schiff to that list.... Heck, you might as well add the soul of Milton Friedman too
- inactive, on 05/11/2009, -6/+26Hey he is a decorated Marine, has a PHD in economics, 40 years experience in the business world, but he spends all day every day trolling on digg!
LMFAO! - Nodaki, on 05/11/2009, -5/+24Hyperinflation is a term thus it is one word not [hyper inflation]. Where did you get your PhD in economics from? Was it the same school that taught you how to use random useless punctutation?
You are truly hysterical and your absence for the last week or so has been noted. Don't do it again. - lordzevo21, on 05/11/2009, -7/+25Do you have any idea what you're talking about? I recommend reading Peter Schiff's "Crash Proof". You have no idea how bad it's going to get. Although I guess that's what the far left ideally wants: another crisis to exploit. Just as the Bush administration did with 9/11/Afghanistan/Iraq, Obama&CO will hold a gun to our collective heads demanding more government authority to "deal" with the problem. Ladies and gentlemen, it's not a RED problem or a BLUE problem, but a PURPLE problem. There is too much government in our wallets and bedrooms.
- GlobalRoamer, on 05/11/2009, -25/+43Just like Jimmy Carter, in the Oval Office, Obama evolved from The Little Man Who Wasn’t There, into The Little Man Who Might as Well Not Have Been There. His efforts in government gave failure a bad name.
Jimmy Carter brought the high interest and uncontrolled inflation that came to be called “The Misery Index.” His disastrous economic program prevented him from getting his picture on the cover of Time, but he did get it on Proctologists Quarterly – appropriately enough on the back cover.
Jimmy could only do business in the Oval Office each day until four o’clock, because he had to be back at “the home” by five. His reputation as Commander-in-Chief was discredited by a helicopter traffic jam he choreographed in the Iranian desert. After that fiasco, his reproach to aggressors has been confined to saying “tsk tsk.”
History will truly rank Jimmy Carter and Obama together. - inactive, on 05/12/2009, -2/+19Or buy silver, I think its undervalued
- richmomz, on 05/12/2009, -6/+23Buy gold.
- RonPauls, on 05/11/2009, -7/+23"The only condition that would justifuy such a move is very clear signals of deflation. As bad as recession and inflation may be it is far better than depression and deflation."
Incorrect. Deflation is a natural response to a credit bubble and needs to be allowed to run its course to purge the system of malinvestments (credit expansions that shouldn't have happened).
Deflation is also beneficial to be people who are most vulnerable in society because prices fall while people's savings stay at par. - emmeron, on 05/11/2009, -5/+21postponing? Not so much. It's happening, it's just happening discretely. And a lot of other nasty things (like food shortages) are happening at the same time, making excuses for some signs of inflation.
Heck, that's the only thing that could save the US for the short therm (I mean the government, not the people). If the world-wide food shortage keeps getting worse, we'll export food to countries that we owe to keep them off our backs... of course, that'll drive our prices up stupidly, as the supply will be choked. But I digress...
The issue we're up against is not having a common valid measurement of inflation. There are valid measurements, but the common ones are easily manipulated. - emmeron, on 05/11/2009, -4/+19I'd sworn off replying to nolibs... but in this case, I think it's time to call out the BS.
Pics or it's fake. Put 'em in your profile. Let us see pics of these diplomas, service records, etc...
Or never bring them up again. Fair enough? - inactive, on 05/11/2009, -2/+17Yes, Lord knows you are far more respectable than Warren Buffet or Jim Rogers when it comes to monetary policies. You've amassed fortunes greater than either of theirs yet still take time out of your busy schedule to come here and share your knowledge. You are a saint!
Thanks for sharing from your vast pool of wisdom, St. Dumbass. - mystcnurse, on 05/11/2009, -2/+16"increased their money supply": Those words severely underestimate what the US and the UK did. We just turned money into paper. Hell, it doesn't even have that much value.
- Hillsfar, on 05/12/2009, -1/+15It'll be what Ian Welsh calls "riptide inflation". Some things like wages and cheap goods or services deflating. Numerous qualified or over-qualified workers chasing the same job, for example. Other things like oil and other commodities will inflate.
http://www.ianwelsh.net/long-term-treasury-rates-r ... - LouisCipher777, on 05/11/2009, -6/+20you also think kensyian economics is valid.
- bigterguy, on 05/12/2009, -1/+14Apparently you missed the 1970's in your school books. We were there. It wasn't pretty.
- inactive, on 05/12/2009, -2/+14@moulin1
There was deflation in the market, but in nominal value of non-monetary assets. That is there was a fall in the prices, and therefore the value, of real-estate, stocks and commodities. That did now decrease the amount of money in the markets by any measurement, neither M1,M2 or M3.
So now to re-inflate the bubble, the government and the Fed are wildly inflating the monetary supply. But it is only going to create inflation. Look at how mortgage rates are climbing, the stock market is climbing and oil is climbing. These are the first indications of the price inflation caused by the monetary inflation. - Nodaki, on 05/11/2009, -5/+16Don't forget that he stated the following; he is Oliver North, he is a multi-millionaire, he is currently paid at the top rung of federal government employees, he does highly lucrative speaking engagements to business leaders, he takes his Congressman and Senator to lunch/dinner almost on a weekly basis, and he is an Independent but he was also a delegate to the RNC in 2008.
His positions, and statements are so ludicrous that I am starting to suspect that the account is a caricature of the neo-cons. - BCPneumatics, on 05/12/2009, -2/+13These are the US inflation rates for the last 12 months: (Starting Apr 08, ending Mar 09)
3.94% 4.18% 5.02% 5.60% 5.37% 4.94% 3.66% 1.07% 0.09% 3.85% 0.03% 0.24% -0.38%
Ideally we could get it back up to ~4.5% (What most economists seem to agree is healthy). What we really need to watch out for shooting up past 6-10% and staying there for a bit. That could start to cause some serious problems. It would be nice to hear some numbers from these gurus, this article is far too ambiguous for me. - inactive, on 05/12/2009, -7/+18Wake the ***** up you partisan *****. THIS ISN'T ABOUT PARTIES ANYMORE. The establishment is all about maintaining power. Obama and Bush are on the same team, and they don't give a ***** about the masses. All they care about is maintaining power and gaining more control over our lives. But hey keep watching CNN and Fox News.....stay asleep.....ignorance is bliss isn't it.....
- jjamminjon, on 05/12/2009, -3/+14I didn't even see this coming after billions of dollars of 'free' stimulus money.....
- inactive, on 05/12/2009, -14/+25Oh sure Warren, you ***** endorsed this ***** and now you're warning about inflation? What did you think he was going to do? Cut spending?
- voluntarist, on 05/12/2009, -4/+15The truth will set you free from the chains of the dollar.
- vuke69, on 05/12/2009, -2/+12By then two of them and a laboured smile will get you a lukewarm cup of stale coffee, cream and sugar are extra.
- inactive, on 05/12/2009, -1/+11Unfortunately I think you are right. It is also called stagflation. It is deadly to the little guy.
- inactive, on 05/12/2009, -1/+10Peter Schiff is the Buster Douglas of economics.
- inactive, on 05/11/2009, -6/+15Guys, all he does is garner attention through negative flame bait. And it works perfectly (look at the number of profile views he has).
Basically since he knows that nobody will give him attention based on intelligence, he will just get it through appealing to the "enemy-of-my-enemy" approach.
For example, he trolls Ron Paul and other liberty minded threads and posts complete and utter nonsense. All this does is give him attention in a cheesy attempt to game the system by befriending other people purely based on negative energy. - sanman, on 05/12/2009, -0/+9Only a fool wouldn't see that heavy deficit spending coupled with low interest rates means depreciation of the US dollar. That unavoidably means strong inflation. This will hit US consumer spending, and it will mean inventory gluts and cutbacks in production across the board. That will exacerbate economic slowdown.
- falser, on 05/12/2009, -3/+12You do realize Obama was not at the helm when things went to *****, right? I don't understand why people blame Obama for an economic crisis that was brewing for 6 years, and came to a head 4 months before he became president.
- inactive, on 05/12/2009, -13/+22Here come the doom and gloomers again. They've been predicting our imminent demise for decades and they're always wrong, but their hopeless track record never stops them.
Let me guess we should buy gold and hoard food right? - inactive, on 05/11/2009, -5/+13I suggest a steady dosage of bury and laughter.
- censormagnet, on 05/12/2009, -1/+8when even digg users arent surprised.. you have to wonder is this isnt exactly what obama/bush/fed wanted in the first place
- joelbranstein, on 05/12/2009, -2/+9This is what happens when you print trillions of dollars with nothing to back it up - get ready for the real butt-reaming next year!
- geekee, on 05/12/2009, -0/+7"Imagine getting paid double, but your mortgage still being the same."
Ahh, inflation doesn't automatically guarantee a pay raise. That's up to your employer, and from the news I'm seeing, people are taking pay cuts to keep their jobs. - kbillar, on 05/12/2009, -0/+7I love my silver, there is nothing more satisfying then holding on to something tangible.
- inactive, on 05/12/2009, -3/+10It is not going to come crashing into your living room. As more investors bail out of Treasuries more dollars will be printed, the economy will slow down , the govet wiill spend more and issues more bonds, more dollars will be printed.
It is a feedback loop.
The speakers are just starting to hum...... - jfreeman, on 05/12/2009, -2/+9This is how inflation happens without anyone realizing it:
A bubble grows in some sector, say real estate. As it is growing, prices rise to record levels. After it bursts, prices begin to fall to normal levels. However, no one wants to admit that normal levels are below record levels. Everyone wants the return of record levels because they identified it with economic progress and not speculation. The government prints money to help those suffering from the price collapse, prices return to record levels, and everyone moves on. What they didn't notice is that all of the difference between normal levels and record levels was inflation. - ghatid, on 05/12/2009, -0/+7I concur. I would like to say something but I guess this is digg, so it's got nothing to do with Obama.
- inactive, on 05/12/2009, -3/+10No i don't believe any of that *****, and just that you would assume that I do shows your ignorance. You proved my point *****. Do you know anything about history? Every person in power throughout history has always tried to increase their power or maintain their dominance over people. Why do you think kings passed down their authority to their sons? To keep the balance of power within their own family. Its the same thing today. Our democracy is just a puppet show to make you think you actually have a say in the world. Guess what.....YOU DON'T. You are a ***** number to the people in power and so long as you are sucked into their games thats all you will ever be. Go kill yourself and do the gene pool a favor.
- Rhino2, on 05/12/2009, -1/+7uh, I have 11 federal reserves notes in my wallet. they are worth nothing you say? Well, those fools at the beer store seem to take them in exchange for beer. SUCKERS. I also buy gas and food with them. What a bunch of morons, am i rite?
- leaftoilet, on 05/12/2009, -0/+6interest rates are close to zero right now and banks are just basically taking free money from the fed. If the fed raises interest rates the normal conclusion people come to is that banks will loan out less money. I predict the opposite. Banks have huge reserves right now but they don't want to loan out money at ~2% so they are waiting for rates to be pushed up by the fed, then the inflation will come.
- RetlawST, on 05/12/2009, -12/+18Somehow this entire meltdown has become Obama's fault? What?
Buffet was pointing out that once recovery hits there's going to be inflation...and it's a no brainer. Would you guys have preferred the entire economy collapsed completely? Somebody needed to act, and the government did. We'll see if their actions help or hurt over time, but inaction in a crashing economy leads to depressions beyond the scope of necessity.
If we had left the "free market" fend for itself, things would be much worse. I feel like you guys don't understand that the field Austrian Economics are almost completely philosophical and aren't based off of ANY REAL MODELS. - inactive, on 05/12/2009, -5/+11***** yes, inflate the hell out of the currency! With dollars worth less, I will be able to finally pay off my student loans! A highly inflated currency can be a good thing for people with big debts and few liquid assets. Now, to buy a little gold...
- kbillar, on 05/12/2009, -0/+6I wonder if they are willing to break my $100,000 dollar bill?
- crod23, on 05/12/2009, -1/+7Hoover staunchly opposed the specific type of legislative action that FDR undertook. Sure...Hoover did "try a lot of things;" however, only at the end of his epic (in a bad way) run at the helm did he realize that govt intervention was required.
Revisionist history of devaluing FDRs contributions to our recovery by equating the end of the depression entirely to WWII spending, or stating that FDR got the benefit of Hoover's policies stinks of Fox news. -
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