patrick.net

freak80 says

Mell,

There's no question that oil prices have skyrocketed in the last 10 years. And yes, that's hurt everyone. And the price has been volatile...both supply and demand are very inelastic. Thank you, China & India. That's not the fault of the federal reserve, right?

That's why I don't buy the whole "fed is causing serious inflation right now" idea.

Sure, the whole business of "printing money" seems shady to me, as it probably does to most regular people. After all, if you or I were to print money, we'd go to jail. Nonetheless, the facts don't support the claim that the fed is causing serious inflation now.

The Fed is causing inflation in the classical sense as defined as an increase in the supply of money and credit.
Without the fed's intervention with three trillion of Qe we would have already had a massive deflationary depression as companies failed, demand dropped and unemployment rose. During this period the economy would have restructured as mal investment would have been liquidated and entities would have been allowed to fail.

The fed is fighting valiantly against deflation as they are trying to create 2pct price inflation by stimulating demand in an economy where naturally without Qe it would be lower

By

Call it Crazy says

upisdown says

And while you're at it, feel free to expound upon your claim that"huge sections of the county don't have nat gas nearby", and WHY,

Hmmm... maybe because I can see the big white propane tanks on their yards..... I think that's a dead give-away that there's no natural gas going to the house...

But, I could just be guessing....

Bellingham Bill says

freak80 says

Nonetheless, the facts don't support the claim that the fed is causing serious inflation now

They're preventing serious deflation, which is the same thing to people sitting on shitloads of money.

Correct bob
See my duplicative post below

upisdown says

You're really are a pathetic individual. So to you, there's ??/who knows how many Egg Harbors in NJ, but to the rest of us sane and rational people, there's only one TOWN

Egg Harbor and Little Egg Harbor are completely different towns. In fact, there's probably 3 or 4 towns in between the two.

This goes on a lot in NJ. There is Freehold and Upper Freehold, both separated by Millstone.

There is North Brunswick, South Brunswick, East Brunswick, and New Brunswick. All completely different towns that border each other.

And yes, a lot of people in those areas have no natural gas line into their home. It's not uncommon for the main part of town to have water, sewer and natural gas lines while the outskirts and older roads have septic, well, and no gas line. Some of them still have oil heat while others get Natural Gas delivery.

indigenous says

Your graph indicates about 18% profit. Notice it skyrockets since uncle ben et al have been baling out the mutts that should be on their ass.

Bingo!

Call it Crazy says

oil

Yeah, I'm not sure why, but the areas with people still on oil heat are filled with weird people. It's incredibly expensive, and they get delivery all the time. And when the oil tank goes down, they install a new one instead of converting.

Buy gold and guns! Hyperinflation is coming!

LOL ! Over 2000 views and 300+ comments but yet the aLMIGHTY oRACLE condemns and ridicules such valid and untainted media ....well as the old adage goes ....consider the source!

Bubbabear says

LOL ! Over 2000 views and 300+ comments but yet the aLMIGHTY oRACLE condemns and ridicules such valid and untainted media ....well as the old adage goes ....consider the source!

Yep - can't wait to post part three of this series, Schiff must have struck a nerve ;)

WE also know of examples of naked longs having their heads handed to them.

Those who don't know might want to look in to the Hunt brothers and what they did in gold and silver in '79/'80.

Even manipulators to the upside can be screwed big time. But short selling that's totally a fools game, since there are people who can afford to buy the gold and hold it, once they deem the price to be low enough.

egads101 says

if you weren't so stupid, you would pay attention to what the oracle says, but obviously, you are that stupid!

sticks & stones....Bah ha ha ha! ... the "aLMIGHTY aNAL oRIFICE" has spoken!

did you know Schiff is "ship" in German but in English it sounds more like "shit"?

lookup youtube for "theShitReport" funny stuff.

anywho...looks like bear warriors have no leaders left...may have run out of steam as well.

short old man is hiding in Singapore.

Shiller is senile beyond comprehension.

Shiff is, well...pretty irrelevant these days. you think he would stop after 113 false predictions but no.

Shiller is senile? Why?

theoakman says

Egg Harbor and Little Egg Harbor are completely different towns. In fact,
there's probably 3 or 4 towns in between the two.

Maybe that's why the word Little precedes Egg Harbor. huh.theoakman says

And yes, a lot of people in those areas have no natural gas line into their
home. It's not uncommon for the main part of town to have water, sewer and
natural gas lines while the outskirts and older roads have septic, well, and no
gas line. Some of them still have oil heat while others get Natural Gas
delivery.

That may sound good to you, and also may rationalize the issue to you, but it's not an accurate view of reality, or factual in regards to nat gas access/availibility.

See, there's this little website at eia.gov that does a state by state breakdown of all the energy sources and by each supplier within that state, along with total amount of each type of energy consumed by the residential, commercial, and industrial sectors. You know, facts and data. Who knew?

And that data tells a completely different story(well the data is a compilation of history) that whatever numbnuts CIC has been pedaling around here. It wasn't hard to find at all, along with coverage areas by the different companies in NJ.Again, that data also doesn't support CIC's act of derriere referencing.

Call it Crazy says

upisdown
says

And now you deleted your post, how pathetic.

upisdown
says

And apparently delete any embarrassing posts too. Loser.

I haven't deleted ANY posts...

Just what type of medication are you on?????

I responded to Bob's post, which made that response post #197, and AFTER I pointed out that you responded instead of him, the next 2 posts suddenly are missing, including your's. I know, freaky, huh. LOL.

Now my former post #197 is now #192, and your post responding(to me, of which was me responding to Bob)is back.

F-n surreal, isn't it.

Seems like the Schiffbots are missing the forest for the trees. They're nitpicking on how many homes in Bobsville, NJ use propane vs. natural gas, the exact price of copper, and how the price of their favorite cut of steak costs a lot more.

Overall, inflation isn't too bad.

egads101 says

Now, if you are going to talk about his advice being better than mine, you have to answer that one single line. Or really, admit you are too stupid to do so, and just shut up on here.

Bah ha ha ha! ... the "aLMIGHTY aNAL oRIFICE" has spoken!

Before 2004 the average price of copper must have been well under a dollar.

Copper is showing raging inflation.

And you claimed that copper was proving your point about low inflation

freak80 says

Seems like the Schiffbots are missing the forest for the trees. They're nitpicking on how many homes in Bobsville, NJ use propane vs. natural gas, the exact price of copper, and how the price of their favorite cut of steak costs a lot more.

Overall, inflation isn't too bad.

As long as you exclude housing, food, gas etc. Of course, we are supposed to love housing inflation.

gsr says

Overall, inflation isn't too bad.

Apart from housing, there is also another effect you do not realize. The inflation is being exported to emerging markets, as they also printed money to keep the dollar high in value. They got bitten lately. In addition, the country has the largest military strength. So it has not come to the point where foreigners lose faith in USD more than they lose faith in their own currencies.

Without a dollar crisis, the hyperinflation won't happen. It will be rather a slow recessionary effect on common people for a long time before actual currency crisis happens.

gsr says

gsr says

Overall, inflation isn't too bad.

Apart from housing, there is also another effect you do not realize. The inflation is being exported to emerging markets, as they also printed money to keep the dollar high in value. They got bitten lately. In addition, the country has the largest military strength. So it has not come to the point where foreigners lose faith in USD more than they lose faith in their own currencies.

Without a dollar crisis, the hyperinflation won't happen. It will be rather a slow recessionary effect on common people for a long time before actual currency crisis happens.

Food for thought on that
http://smaulgld.com/why-the-end-of-quantitative-easing-may-be-bad-for-the-dollar/

egads101 says

Bubbabear says

egads101 says

Now, if you are going to talk about his advice being better than mine, you have to answer that one single line. Or really, admit you are too stupid to do so, and just shut up on here.

Bah ha ha ha! ... the "aLMIGHTY aNAL oRIFICE" has spoken!

ok, strike 3. you are just a stupid F**K. sucks to be you, on this blog for 2 years dreaming house prices would crash further!

Ok, strike 3 ... Bah ha ha ha! ... the "aLMIGHTY aNAL oRIFICE" has spoken prematurely!

A loaf of bread is still about $2.50. A gallon of milk is still about $3. Nationally, house prices have returned to long-term historic averages.

The big run-up in oil prices happened long before QE. A few million new drivers in China combined with depleting conventional oil reserves will do that.

The health care and college rackets are killing us, but that's not the fault of the fed. College is the new high school, since anyone can get a college degree nowadays. Now you need a college degree to get a low-wage shit-job, when previously a high school diploma would do. It's an "arms race" to get the best credentials even if said credentials are irrelevant to the job.

freak80 says

A loaf of bread is still about $2.50. A gallon of milk is still about $3. Nationally, house prices have returned to long-term historic averages.

The big run-up in oil prices happened long before QE. A few million new drivers in China combined with depleting conventional oil reserves will do that.

The health care and college rackets are killing us, but that's not the fault of the fed. College is the new high school, since anyone can get a college degree nowadays. Now you need a college degree to get a low-wage shit-job, when previously a high school diploma would do. It's an "arms race" to get the best credentials even if said credentials are irrelevant to the job.

Organic milk is $6 a gallon. Industrial food that kills is much cheaper than good healthy wholesome food.

Milk is one item where organic is well worth it.

The EPI is a much better calculator for inflation of everyday items and not surprisingly yields significantly higher inflation:

https://www.aier.org/article/7557-epi-reflects-basic-economic-change

Remember, a price increase could from the fundamentals.

Over the last 15 years, we decided to let the third world compete for the same limited planetary resources. Thank you, globalization. When you've got millions of new people entering the middle class worldwide, that puts severe strain on resources like oil and metals.

In a global economy, everybody makes Bangladesh wages. But that's the fault of globalization, not the fed.

Copper is showing raging inflation no matter how you slice it. You claimed the exact opposite.

And in the 1990s inflation was low.

freak80 says

A loaf of bread is still about $2.50. A gallon of milk is still about $3. Nationally, house prices have returned to long-term historic averages.

The big run-up in oil prices happened long before QE. A few million new drivers in China combined with depleting conventional oil reserves will do that.

The health care and college rackets are killing us, but that's not the fault of the fed. College is the new high school, since anyone can get a college degree nowadays.

That's not true. We have been living on cheap money (for loan) for decades. The QE is just the same policy on steroid.

And when you throw cheap money around, you don't know where they will go. The money will go somewhere, possibly not where you like. The college racket also has a large appetite for cheap money, who does not?

In short, anything that can be obtained with a loan has been getting expensive due to high bidding. This includes loans to regular consumers as well as wall streets.

Schiff has taken to promoting silver

Did he cause a Schiff surge in September?
/?p=1230059

freak80 says

Remember, a price increase could from the fundamentals.

Over the last 15 years, we decided to let the third world compete for the same limited planetary resources. Thank you, globalization. When you've got millions of new people entering the middle class worldwide, that puts severe strain on resources like oil and metals.

In a global economy, everybody makes Bangladesh wages. But that's the fault of globalization, not the fed.

This is such a baloney. You really don't understand the connection between producer and consumer. You need both. In order for you to consume, someone has to produce at the price that you can consume.
And how do you consume when you don't have enough earning? You have cheap credit. Just put on a few 10000 dollars on your credit card and things will be all right. You just need to keep calling your credit card company to raise your credit ceiling.

If you think globalization is the source of the problem, why don't you go live in an island alone with no connection with anyone else, and see how you can live a lifestyle without anyone else around? That should be a cure for your problem.

You just print money on your own printing press, and use it buy stuff, where there is no other consumer except yourself?
Wait, someone has to make the stuff for you that you can buy. But no one will be there. So you can make your own stuff, give yourself a nice million dollar salary with your own money.

egads101 says

StillLooking says

Organic milk is $6 a gallon. Industrial food that kills is much cheaper than good healthy wholesome food.

Milk is one item where organic is well worth it.

there is no reason whatsoever for an adult to drink milk, of ANY form.

There is no reason for you to post. Heck, I have no reason to drink scotch, of ANY form, but I still do because I like doing so. F U if you don't like it.

Here's an index of major commodities from www.indexmundi.com

freak80 says

Here's an index of major commodities from www.indexmundi.com

Notice the spikes, where cheap money jacked up the prices of commodities, and then fell apart due to lack of organic demand. The same thing happens for all other asset classes as well. That includes your real estate.

In that one respect, I agree that real inflation won't happen until the money really trickles down to the poor. There will be speculative bubbles followed by crashes. That's why pumping money through QE or other means do nothing more than creating these bubbles and crashes, as it mostly stays at the top. It also creates the slow inflationary effect that mostly hurts the poor.

egads101 says

StillLooking says

Organic milk is $6 a gallon. Industrial food that kills is much cheaper than good healthy wholesome food.

Milk is one item where organic is well worth it.

there is no reason whatsoever for an adult to drink milk, of ANY form.

The Amazing Health Benefits of Raw Milk

http://www.naturalnews.com/023083_milk_raw_benefits.html

...the Bewildered Bubbabear has spoken !

egads101 says

Ridiculous. Scotch is very important for health... Milk is terrible for you, and doesn't even mix with scotch!

That is the first time you have said something that makes sense.

gsr says

Notice the spikes, where cheap money jacked up the prices of commodities, and then fell apart due to lack of organic demand. The same thing happens for all other asset classes as well. That includes your real estate.

Here's the 10-year treasury rate from www.multpl.com

Your cheap money thesis appears correct.

Are people "yield chasing" by speculating since interest rates are so low? And is that speculation causing a "serial-bubble" economy? I've heard that theory before, and it does seem convincing...to me at least.