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Constitution Class - Happy 4th of July (pg. 25)
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| DOOMBOT |
Obviously we don't agree on the definition of inflation. But let's use your definition, which is the increase in prices. If the CPI figures put together by the government did not exist, would you still use the exact components that are currently used with that calculation as your own? If so, what makes you have complete faith in that method? |
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| iTranscendence |
| quote: | Originally posted by trancypantzzz
i don't know about that constitution, but i do know where lebron james will play basketball next year. |
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| occrider |
| quote: | Originally posted by DOOMBOT
Sure it does. If you have 5 of something and then create 10 more, for example, the 5 original items become less valuable.
Ah, ok. So you do agree that an increase in the money supply devalues the currency.
lol |
Sigh ... seriously dude ... that's your response to me? There used to be a time when I responded to evolution deniers, 9/11 truthers, irrational anti-bues etc., for hours on end to get to a reasonable agreement because I knew there was room for discourse with the other party ... however clearly you're more interested in deconstructing my argument for talking points than legitimately addressing the points that I raise. Anyway you win ... if it's a race to the bottom you desire I have no qualms appeasing you. |
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| Comrade Stalin |
| quote: | Originally posted by DOOMBOT
Obviously we don't agree on the definition of inflation. But let's use your definition, which is the increase in prices. If the CPI figures put together by the government did not exist, would you still use the exact components that are currently used with that calculation as your own? If so, what makes you have complete faith in that method? |
People in Zimbabwe were not paying attention to the money supply. They were concentrated on the prices. Therefore, the principle definition of inflation, is a prolonged period of increased pricing levels.
As for this graph...
It's misleading because just as much money, if not more, has disappeared from the system. That is why inflation is basically 0%. You are worried about a problem that doesn't even exist at this point. |
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| Comrade Stalin |
| quote: | Originally posted by occrider
Sigh ... seriously dude ... that's your response to me? There used to be a time when I responded to evolution deniers, 9/11 truthers, irrational anti-bues etc., for hours on end to get to a reasonable agreement because I knew there was room for discourse with the other party ... however clearly you're more interested in deconstructing my argument for talking points than legitimately addressing the points that I raise. Anyway you win ... if it's a race to the bottom you desire I have no qualms appeasing you. |
Keep it up occ, for us!:gsmile: seriously, i want to hear your response. |
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| DOOMBOT |
| quote: | Originally posted by occrider
Sigh ... seriously dude ... that's your response to me? There used to be a time when I responded to evolution deniers, 9/11 truthers, irrational anti-bues etc., for hours on end to get to a reasonable agreement because I knew there was room for discourse with the other party ... however clearly you're more interested in deconstructing my argument for talking points than legitimately addressing the points that I raise. Anyway you win ... if it's a race to the bottom you desire I have no qualms appeasing you. |
Well it's quite obvious you couldn't hang. You simply don't know wtf you're talking about. :(
It's better that you leave though. Stalin and pkc have had more interesting things to add to this discussion anyway. So long! |
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| DOOMBOT |
| quote: | Originally posted by Comrade Stalin
People in Zimbabwe were not paying attention to the money supply. They were concentrated on the prices. Therefore, the principle definition of inflation, is a prolonged period of increased pricing levels.
As for this graph...
It's misleading because just as much money, if not more, has disappeared from the system. That is why inflation is basically 0%. You are worried about a problem that doesn't even exist at this point. |
We aren't seeing the effects of inflation (yet) because much of it is still in bank reserves and has not been circulated through the economy. So you are incorrect about inflation being at 0%, since inflation is the increase in the money supply, which by that chart, obviously isn't at 0%. |
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| pkcRAISTLIN |
| quote: | Originally posted by DOOMBOT
Well it's quite obvious you couldn't hang. You simply don't know wtf you're talking about. :(
It's better that you leave though. Stalin and pkc have had more interesting things to add to this discussion anyway. So long! |
:haha: :haha: :haha: :haha:
Yeah, you don’t grasp what he’s saying and suddenly HE doesn’t know what he’s talking about? ROFL. Maybe if you took some economics classes you’d be able to respond to his arguments. Good luck with that! |
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| DOOMBOT |
| quote: | Originally posted by pkcRAISTLIN
:haha: :haha: :haha: :haha:
Yeah, you don’t grasp what he’s saying and suddenly HE doesn’t know what he’s talking about? ROFL. Maybe if you took some economics classes you’d be able to respond to his arguments. Good luck with that! |
OMG Like LOL, you got me, ROFL |
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| pkcRAISTLIN |
| quote: | Originally posted by DOOMBOT
OMG Like LOL, you got me, ROFL |
Me? :conf: No I had nothing to do with it. You did it to yourself, by not even having the requisite knowledge to understand (let alone refute!) what occrider was illustrating. There’s a difference between being a bank’s checkout chick and having a degree in economics and being employed as an economist. And you just showed everyone that perfectly. |
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| DOOMBOT |
| quote: | Originally posted by pkcRAISTLIN
Me? :conf: No I had nothing to do with it. You did it to yourself, by not even having the requisite knowledge to understand (let alone refute!) what occrider was illustrating. There’s a difference between being a bank’s checkout chick and having a degree in economics and being employed as an economist. And you just showed everyone that perfectly. |
LOL!! |
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| Comrade Stalin |
| quote: | Originally posted by DOOMBOT
We aren't seeing the effects of inflation (yet) because much of it is still in bank reserves and has not been circulated through the economy. So you are incorrect about inflation being at 0%, since inflation is the increase in the money supply, which by that chart, obviously isn't at 0%. |
Inflation isn't measured by money supply. It's measured by price indexes, namely, the Consumer Price Index (All Urban Consumers). This is economics 101 and it sucks that we even have to go over this. I am clueless as to how we can further this discussion when you can't even get basic facts right. Anecdotally, prices are for the most part, stable, or slowly falling (i.e. real estate).
Inflation
In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.
http://www.investopedia.com/terms/i/inflation.asp
The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling.
http://www.investorwords.com/2452/inflation.html
The overall general upward price movement of goods and services in an economy, usually as measured by the Consumer Price Index and the Producer Price Index.
wordnetweb.princeton.edu/perl/webwn
A general and progressive increase in prices; "in inflation everything gets more valuable except money"
en.wikipedia.org/wiki/Inflation
In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.
en.wikipedia.org/wiki/Inflation_(a_price_increase)
Asset price inflation is an economic phenomenon denoting a rise in price of assets, as opposed to ordinary goods and services. Typical assets are financial instruments such as bonds, shares, and their derivatives, as well as real estate and other capital goods.
www.morganstanleyindividual.com/cus...ary/Default.asp
Inflation is a persistent increase in prices, triggered when demand for goods is greater than the available supply.
www.statefarm.com/learning/life_sta...re/glossary.asp
The overall general upward price movement of goods and services in an economy, usually as measured by the Consumer Price Index and the Producer Price Index. |
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