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Constitution Class - Happy 4th of July (pg. 26)
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| Comrade Stalin |
| 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. |
Like telling a heart surgeon he doesn't wtf he's talking about in a discussion about heart disease. :stongue: |
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| DOOMBOT |
| quote: | Originally posted by Comrade Stalin
Inflation isn't measured by money supply. It's measured by price indexes, namely, the Consumer Price Index (All Urban Consumers). |
| quote: | Originally posted by DOOMBOT
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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| DOOMBOT |
| quote: | Originally posted by Comrade Stalin
Like telling a heart surgeon he doesn't wtf he's talking about in a discussion about heart disease. :stongue: |
Even if the surgeon has killed all of his patients, well, he's a heart surgeon! How can you argue with that! :rolleyes: |
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| Comrade Stalin |
| quote: | Originally posted by DOOMBOT
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Irregardless of what variables are in CPI figures, inflation is still measured according to price levels in a given amount of time, not by money supply as you tried to tell us. There are also many CPI figures which include all the variables not included in the core CPI so if you don't like core CPI, then look at another CPI that fits your criteria. As for the core CPI, if you remember anything from statistics (if you ever took such a class), you would know that volatile variables often skew the overall results so as to make it less useful. But people like you see such variable filtering as some plot to deceive the masses. There is no deception.
By my recollection, McDonald's still has a dollar menu. Milk is still $3/gallon, gas hovers in the $2.50-3.50 range, etc. Clearly, you're flat out wrong about everything you've said about inflation, the definition of inflation, the CPI, and anecdotally alone, you've been proven wrong. Otherwise, you should be paying $10 for a Big Mac, right?
How about this? Give me the true inflation rate and tell me where that inflation is showing up. |
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| MrJiveBoJingles |
PHP:
Haha, I love that Swamper censors "irregardless." |
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| Comrade Stalin |
| quote: | Originally posted by DOOMBOT
Even if the surgeon has killed all of his patients, well, he's a heart surgeon! How can you argue with that! :rolleyes: |
So occrider, metaphorically the heart surgeon, is killing his patients? :rolleyes: Way to screw up a metaphor and not even prove anything...You're free to explain why occrider, a trained economist, working in New York's financial sector, doesn't know wtf he's talking about.
Again, like telling a heart surgeon he doesn't know wtf he's talking in regards to heart disease. And you can stop there. No need to butcher the metaphor and not prove anything by doing so. |
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| DOOMBOT |
| quote: | Originally posted by Comrade Stalin
Irregardless of what variables are in CPI figures, inflation is still measured according to price levels in a given amount of time, not by money supply as you tried to tell us. |
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| pkcRAISTLIN |
| I’m hoping now that doodlebot and iStupid have admitted they have NFI what they’re complaining about, this thread will die the death it should have at inception. Though I particularly enjoyed iStupid’s immediate retreat once he realised how little he understood. That was gold. |
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| Comrade Stalin |
| quote: | Originally posted by DOOMBOT
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And so we have it. Too bad we couldn't get past your faulty definition of a term that has one universally accepted meaning in dictionary after dictionary. Way to go. I would have liked to discuss something with a little more substance than definitions and "End the Fed" rhetoric. |
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| Moongoose |
| Ah man, i was hoping it would have gone on for a bit longer, it was very entertaining. |
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| iTranscendence |
| quote: | Originally posted by pkcRAISTLIN
I’m hoping now that doodlebot and iStupid have admitted they have NFI what they’re complaining about, this thread will die the death it should have at inception. Though I particularly enjoyed iStupid’s immediate retreat once he realised how little he understood. That was gold. |
I concede nothing, and I retreat nowhere. You ninnying little Keynesian stains just nit-pick build strawmen and go down the rabbit hole on issues in a war of attrition to try and tire out your opponent, when in reality the numbers and history speak for themselves. Every society that has allowed the creation of money with no value backing it, all collapse. But please keep up the good work of keeping this a hot topic. |
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| pkcRAISTLIN |
| there's no need to take the time to run up the white flag, your inability to respond to occrider's posts is all we needed, thanks. |
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