patrick.net

freak80 says

But they are NOT causing severe inflation right now. It's just not happening.

What's missing from the hyperinflationist thesis is HOW the masses can PAY for this rise in goods and services.

They can't, so there won't be hyperinflation, not until we more closely integrate our economy with the 3B Chinese/Indians and give them a lot more of our money to spend.

Weimar happened because of an intentional wage-price spiral, goods couldn't stay on the shelves more than minutes.

The 1970s happened due to full employment, as the baby boom and women's-lib arrived at the same time to double both household incomes and household formation. Inflationary!

One thing though, imports are deflationary, and we've enjoyed a lot of free imports since the 1990s.

Exports are inflationary (domestic workers get wages but have no goods to show for it, the goods were exported overseas), and we need to do a lot more of that.

Regarding the chatter about inflation:

You are seeing the inflation at the high end of the market think, Christies, Sotheby's, real estate. Additionally the banks have a record excess reserve funds which they park in their own accounts uncle Ben is paying them interest on the money parked there out of the market place.

The CPI are cooked books, I would say at retail the inflation is running at 10%.

By definition inflation is an increase in the money supply. After the FED adding trillions of dollars to the money supply there IS inflation.

Call it Crazy says

A trip to the grocery store is up maybe 25% from last year.

Is it really?

http://www.ers.usda.gov/datafiles/Food_Price_Outlook/Food_Price_Outlook/CPIforecast.xls

All the essentials have had strong inflationary pressure. Who gives a fuck about flat screen TVs? You need babysitters, health care, housing, healthy groceries (not processed shit), utilities, education, not flat screen TVs to watch American Idol on and waste away your productivity. With or without a job you are better off without a TV ad most other electronic entertainment shit.

egads101 says

mell says

you posted that idiotic chart before, dimwit.... Kid's activities up 118% in 2 years sure thing! paintball prices doubled... kart racing doubled...

base your life decisions on made up crap if you want to!

Ah yes, the "oracle" who is your trusted source of inflation as opposed to mint.com - got it! Oh wait.. ;)

Rice is considerably cheaper than 2008, when all you heard on Alex Jones and other gloomy doomy websites was to hoard rice.

However, Mell does have a point. While kid's activities is nonsense, middle class markers like Health Care and Tuition have been skyrocketing. Not as much as in the above chart, but I'd say it's not nuts that tuition and health care is much more expensive than 30 years ago, wayyyyyy outpacing wages.

CiC said: So tell me, what do you have as a side dish when you're eating your natural gas
Methane (from natural gas) -> steam reformation (for hydrogen) ->Haber process spits out nitrogen fertilizer. It is estimated that half of the protein within human beings is made of nitrogen that was originally fixed by this process from Wikipedia.

Natural gas, it's what's for dinner.

I should point out that many folks believe that natural gas IS one of the main reasons we'll see an industrial and manufacturing renaissance in this country. It's both a feedstock for industrial processes and a low priced supply of energy for heating and generating electricity.... but otherwise, ya know, it's irrelevant...

Bellingham Bill says

Weimar happened because of an intentional wage-price spiral, goods couldn't
stay on the shelves more than minutes.

Well, that and war reperations. No?

indigenous says

The CPI are cooked books, I would say at retail the inflation is running at
10%.

By definition inflation is an increase in the money supply. After the FED
adding trillions of dollars to the money supply there IS inflation.

Virtually impossible with the amount of people not participating in the economy. Meat? Yes, but for other reasons such as drought and diminishing herd sizes that take roughly 5 years to replenish.

Try again.

CiC,

You've lost your mind.

The world is not going to hell in a hand basket. Even if Fox News is telling you so.

Are you worried about the end of the world? Or are you worried about the end of you? We must all eventually come to terms with our own mortality.

StillLooking says

If we have a winter this year I expect to see much higher prices.

Seriuosly, IF we have a winter? IF you REALLY live in Skokie, then last year would still be stuck in your 3 point of contact.

But you really don't, I'm pretty certain of that. Relatives, maybe, but not you.

Call it Crazy says

....."According to the American Gas Association, 62 million homes in the U.S
are heated using natural gas. As of 2009 this number represented about 56
percent of households in the United States.

Duh, what's the percentage of homes that NEED heat in America. And, of those that do need heat, what's the source of that heat????

Call it Crazy says

See, It's ducky's statement that I responded too... It said nothing about who
NEEDED heat.... just the number of homes that have it available...

Of course it's available, considering the distrobution network and monopoly that nat gas has within densely populated area, and because it's WIDELY used to heat water, most homes that are on the border of climates also have it piped to a furnace for heat, if it is needed.

So, you're implying that homes that may need heat sporadically, if at all, don't use nat gas as a source, even though those same homes use nat ags for heating water?

You're full of shit, and really not that bright also.

Call it Crazy says

Another FYI for the clueless.... I live in a very populated area of NJ and
guess what??? There are huge sections of the county that DON'T have natural gas
anywhere nearby....

You(supposedly)live in a VERY densely populated(now you'll say that's it's a rural area)part of NJ and that nat gas is nowhere to be had?

I'm not just calling bullshit, but calling you out to PROVE it.*

*Be forewarned, I might just maybe know somebody that works in that sector, in that region.

CiC,

Your points have been thoroughly refuted. The fact some people don't use natural gas in NJ is pretty much irrelevant.

Peter Schiff was wrong. There's no hyperinflation. The dollar is not collapsing. In fact, gold and silver are tanking. Anyone who fell for the doom and gloom narrative put forth by Schiff and invested heavily in gold, silver, and ammo is sitting on a very painful loss.

If you want to make your investment and life decisions based on gurus, pundits, and cranks, go ahead. It's your loss.

Call it Crazy says

There are huge sections of the county that DON'T have natural gas anywhere
nearby....

Ahhhh, the rural exclusion. Just as I thought that you would use as an out, to save face.

Call it Crazy says

Another FYI for the clueless.... I live in a very populated area of NJ and
guess what??? There are huge sections of the county that DON'T have natural gas
anywhere nearby....

freak80 says

CiC,

Your points have been thoroughly refuted. The fact some people don't use
natural gas in NJ is pretty much irrelevant.

Somebody threw you a lifeline, take it before you get embarrassed any more.

http://rationalwiki.org/wiki/Gish_Gallop

CiC, you are a master of the Gish Gallop when discussing economic issues.

Call it Crazy says

Going for the stretch and spin now..... what's your definition of
rural???

The Bay area BS program doesn't account for people in the REAL world that can offset internet hype with facts. Stop while you have some semblance of self respect.

Call it Crazy says

Call it
Crazy says

upisdown
says

(now you'll say that's it's a rural area)

Where did I say "rural" in my post???

I'm still waiting....

Supposedly you live"just North of Egg Harbor" which is pretty f-in rural(no munincipal utilities) or maybe you live in the Wharton State Forest. So, which is it ,sir bulshittiness?

egads101 says

Answered earlier. Deficit spending is actually declining at one of the fastest rates in history, right now, and the debt is at best a medium sized problem now. Economic growth, and employment are far more important today.

That is irrelevant there is 20 TRILLION IN DEBT WITH AT LEAST 100 TRILLION IN UNFUNDED LIABILITES, THE DEBT SERVICE ON JUST THE CURRENT DEBT SERVICE IS 200BILLION AT 1.5% AT HISTORICAL NORMS IT WILL BE 1 TRILLION DOLLARS PER YEAR

But you are right it is declining at the fastest rate in history. Yea that'll fix it. I'm sure mostly because of reduced war cost.

Call it Crazy says

Supposedly you live"just North of Egg Harbor"

Your words, not mine. Do you want me to pull the quote from your post, liar?

Call it Crazy says

Absolutely, please show me where I said I live just North of Egg
Harbor...

59 2:51pm Wed 31 Oct 2012 Share Quote Permalink Like Dislike
zzyzzx says

Don't we have someone from Egg Harbor, NJ that posts here often? Anyone heard from them?

I'm a bit north of there, there are many areas that are totally f*cked... the damage up and down the beach towns is unbelieveable. I've lived through many hurricanes and storms in NJ and this by far has been the worst!!!

It's your post, and I copied from your response that I looked up through your screen name.

You're a fucking idiot AND liar.

Call it Crazy says

Perfect, now nail it down to the Lat and Long and you'll be spot on...

I already did, twice. Stick to "blogging", it suits you and your IQ level.

Call it Crazy says

Yep, your real close....

Ahhhh, the Eastern part of NJ, because Just North of Egg Harbor' isn't "densely populated", at all, is it?

So, let me see if I am getting the BS point that you're trying to make. In one of THE most densely populated states, and YOU claim that it IS a densely populated area, that you say there is NO nat gas available, just propane and electric?

Prove it. Careful now, I have a shit load of relatives* whether I like them or not, they will return a phone call or email.

*Hint: they might just work in the energy industry also.

indigenous says

You and others like you keep saying we're not going to be able to pay it back. For one thing, it's not even borrowed yet. Unfunded liabilities isn't debt.

What is your definition of liability?

indigenous says

It's planned spending that may or may not occur.

WTF

indigenous says

The only thing preventing our debt from being controlled is willpower. We can retire it the same way we retired the World War II debt. The problem is that until Americans wake up and stop casting votes for Republicans, nothing will get better.

WWll debt was financed by bonds. The debt we have now will financed by inflation.

Americans need to wake up and stop voting for Republican and Democrats

upisdown says

In one of THE most densely populated states, and YOU claim that it IS a densely
populated area, that you say there is NO nat gas available, just propane and
electric?

And this is what you tried to twist my words into:

Call it Crazy says

but you want to assert, that since NJ is the most densely populated state

So, you're actually saying, excluding the rural areas, or areas that aren't hooked up to nat gas or have access to it, that the densely populated areas DO NOT have access to nat gas?

upisdown says

Supposedly you live"just North of Egg Harbor" which is pretty f-in rural(no munincipal utilities) or maybe you live in the Wharton State Forest. So, which is it ,sir bulshittiness?

Actually as a former inmate of Ocean County who made good his escape I must say you are incorrect. First off there is no Egg Harbor in Ocean county. There is Egg Harbor Township in Atlantic county. There is Egg Harbor City also in Atlantic county but not in Egg Harbor township. Ocean county has Little Egg Harbor township, but there is no Little Egg Harbor CIty. See, isn't that all perfectly clear?

One would think that someone claiming to live in Ocean county would know that there is no Egg Harbor in Ocean county. Pretty odd.

North of Little Egg Harbor township is actually pretty heavily suburban. A little map reading would help you greatly. Ocean County is pretty much split by the parkway. East of the parkway has fairly dense populations especially along Rt 9, along the bays, and on the barrier islands. West of the parkway is mostly state forest or land protected by the pinelands commission. This rural. Sand and stumpy pine trees are big attraction if you are into that kind of thing. The exception to this rule is the area along Rt. 70 west of Toms RIver which contains the largest collection of blue hairs occupying that nebulous area between life and death on the planet.

My uncle still lives in Tuckerton (god only knows why, he's an otherwise reasonable man), just north of Little Egg Harbor and has natural gas so I would assume Little Egg Harbor has it also.

bob2356 says

Actually as a former inmate of Ocean County who made good his escape I must
say you are incorrect. First off there is no Egg Harbor in Ocean county. There
is Egg Harbor Township in Atlantic county. There is Egg Harbor City also in
Atlantic county but not in Egg Harbor township. Ocean county has Little Egg
Harbor township, but there is no Little Egg Harbor CIty. See, isn't that all
perfectly clear?

Look it up in an atlas, there's only ONE Egg Harbor, at least in mine.

And, he claimed that he was "just North of Egg harbor", and never referred to Ocean County. But you knew that also.

Try again.

upisdown says

upisdown
says

In one of THE most densely populated states, and YOU claim that it IS a
densely
populated area, that you say there is NO nat gas available, just
propane and
electric?

And this is what you tried to twist my words into:

Call it
Crazy says

but you want to assert, that since NJ is the most densely populated state

So, you're actually saying, excluding the rural areas, or areas that aren't
hooked up to nat gas or have access to it, that the densely populated areas DO
NOT have access to nat gas?

So, which is it?

Let me guess, the topic will somehow suddenly get misdirected to gay marriage. Isn't that how this little bullshit game works, when somebody pins you down on something, you just keep changing the subject so you never answer the question?

Call it Crazy says

upisdown
says

So, you're actually saying, excluding the rural areas, or areas that aren't
hooked up to nat gas or have access to it, that the densely populated areas DO
NOT have access to nat gas?

What's your point.... I'm still trying to get from you what your definition
of "rural" is... and for that matter, definition of "densely
populated"...

You want some benign definition of rural, that of course you'll argue to the end of time, but while you're constantly trying to redirect the discussion to that, you haven't addressed the topic of nat gas availability in a "densely populated area", have you??

Stick to blogging, don't make me embarrass you with facts from the real world.

Call it Crazy says

bob2356
says

One would think that someone claiming to live in Ocean county would know that
there is no Egg Harbor in Ocean county. Pretty odd.

Boy Bob... You're good..

I said "north" of Egg Harbor... could be Little Egg Harbor, could be Monmouth
County... North is north...

bob2356
says

The exception to this rule is the area along Rt. 70 west of Toms RIver which
contains the largest collection of blue hairs occupying that nebulous area
between life and death on the planet.

That's your best part!!! That Whiting is a scary area.. unless you like old
ladies without teeth...

Oh, and No, I'm NOT a "piney".....

The "whose on first routine" by the house mopes STILL hasn't answered the question about nat gas access and availability in you're so-called densely populated area, has it?

Give it up already because it's pretty obvious that not only do you not live there, but you know next to nothing about the area, in detail.

upisdown says

You want some benign definition of rural, that of course you'll argue to the end
of time,

And it starts.

Call it Crazy says

Is that a real tough question for you to answer??? Seriously???

Some people think a 100x100 lot is rural, some others think a 100 acre ranch
is rural. It means different things to different people..

So, what's yours???

You're a fucking idiot, and liar too.

Notice the inverse of Ad Hominem to intelligence as stated earlier by CIC. As Ad Hominem is a manifestation of ignorance.

freak80 says

The dollar is not collapsing. In fact, gold and silver are tanking. Anyone who fell for the doom and gloom narrative put forth by Schiff and invested heavily in gold, silver, and ammo is sitting on a very painful loss.

The dollar is weak, gold and silver have retraced from their highs but are still multiples higher since they started running, and ammunition prices have certainly gone up significantly and there have been supply shortages. Schiff must really have struck a nerve here if everybody is trying their best to prove him "wrong" ;)

indigenous says

The reason it is not obvious in Japan is an Asian culture of saving.

Japan is an entirely different beast. It has been a producing economy with trade surpluses for a long time, furthermore the Japanese are an aging culture of strong savers (pretty much the opposite of the US) who have been buying their bonds instead of increasing their consumption, thus the effects have been very different. That has been changing however in the last years with regards to the trade surplus and also the domestic bond buying power is weakening, so Japan can become very volatile with continued applied "abenomics".