Because it's a modest level of inflation. It causes no economic harm and it provides a buffer against deflation. It's a hedge against deflation.
The U.S. Economy: Stand by for more worse news
- Thread starter Brian Foley
- Start date
Given this graph begins in 1947 (right before the US government started 'regulating' everything - for 'our' benefit/benefit of crony constituents) it looks even WORSE!
Particularly when one factors in the massive gains in productivity. Which is why, I posted once before, an economists argument that minus the Fed-Bloatware glogging up the Economy/Hardware we'd see a medium income $350,000 in a free-market the USA. We'd probably not have started 3 more massive Phony Wars either (Korea, Vietnam, Middle East) or be living in a Police State (no, and not a virtual one either).
While I know it must be hard for some Americans to imagine we could, right now, have a medium income of $350,000 per person (which would allow for a huge amount of charity, that's already quite large), the same could be said about a $30,000 to a Chinese making $3000. I'm sure $30,000 sounds 'unrealistic' fantasy talk - particularly when you're just making ends me. The idea of tossing a perfectly good plastic bottle capable of carrying water in the ditch probably seems insane some someone in a small tribe where the medium income is $30 as well.
HA!
Yeah, because we all know how harmful falling prices are to the consumer - just look at the electronics industry. LOL!
Note: 2% inflation is stealing, plain and simple. But, when you live in a Tax Farm as a Citizen OF (property OF) a State, you do what your Tax Farmers tell you to do, or off to the slaughterhouse with you. Essentially, you're a State Slave.
Schmelzer
Valued Senior Member
It is irrelevant. What matters are where the data come from, not how many people have copypasted and commented them in the net.
Of course, I would not say that FRED would be a reliable source - these are politically influenced statistics which I have learned to despise already in my childhood. But, and this is the rule of the game, they come from a source you seem to accept as reliable, so you have to live with these data.
Yes, the economy is doing SO AWESOME that the Central Planners decided NOT to raise interest rates a humongously dangerous *GAAASP* 25bp.
I the words of a moronic POTUS: Mission Complete!
- POTUS Moron (circa: lost to the pages of History)
Fortune: Federal Reserve announces no interest rate hikes
Soooo?
Where to from here?
Ohhh yes, next stop: QE4-eva.
Or possibly (as I suggested): QE Pro Air. I guess it all depends on what Branding tells the Central Planners the Idiocracy prefers. Something simple a 5th grader would want to buy.
Then what?
What happens after QE4-eva Air Pro turns out to be another Central Planning failure? What happens when QE4-eva works as well as Government Schooling? When our "economy" looks like the Centrally Planned Government Owned-and-Run Welfare Slums?
Then what?
Yes. That's when America finally get's down to business. Time to elect a Demagogue. I mean, a real sociopath. And, depending on the 5th Grader mentality Government Schooled functionally illiterate Idiocracy we may end up with a Demagogue who decides to start WWIII. Cannon Fodder sent to die for the "Good of the You Use The Roads" are good Jerbs. Or, perhaps we'll get a Dictator that looks a bit more internally? Or both. Everythign is Awsome in Police State USA - we can do it all!
Just imagine how the MOAR FREE American public will cheer on The Great Redistribution where ex-Bankers and other's who profited from the WallStreet scam 'pay their fair share' (often one and the same, see: SlumLords). Oh, and Koch Brother too! They have to pay! PAY!!! It's all their fault!
LOL
Americans sure do have a predilection for MOAR FREE. And who better to usher in The Great Redistribution than a POTUS with a mandate to do so from The Greatest Republic in the History of Everything Awsome: that is, the voting public and Citizens OF the USA.
D:
I the words of a moronic POTUS: Mission Complete!
- POTUS Moron (circa: lost to the pages of History)
Fortune: Federal Reserve announces no interest rate hikes
Soooo?
Where to from here?
Ohhh yes, next stop: QE4-eva.
Or possibly (as I suggested): QE Pro Air. I guess it all depends on what Branding tells the Central Planners the Idiocracy prefers. Something simple a 5th grader would want to buy.
Then what?
What happens after QE4-eva Air Pro turns out to be another Central Planning failure? What happens when QE4-eva works as well as Government Schooling? When our "economy" looks like the Centrally Planned Government Owned-and-Run Welfare Slums?
Then what?
Yes. That's when America finally get's down to business. Time to elect a Demagogue. I mean, a real sociopath. And, depending on the 5th Grader mentality Government Schooled functionally illiterate Idiocracy we may end up with a Demagogue who decides to start WWIII. Cannon Fodder sent to die for the "Good of the You Use The Roads" are good Jerbs. Or, perhaps we'll get a Dictator that looks a bit more internally? Or both. Everythign is Awsome in Police State USA - we can do it all!
Just imagine how the MOAR FREE American public will cheer on The Great Redistribution where ex-Bankers and other's who profited from the WallStreet scam 'pay their fair share' (often one and the same, see: SlumLords). Oh, and Koch Brother too! They have to pay! PAY!!! It's all their fault!
LOL
Americans sure do have a predilection for MOAR FREE. And who better to usher in The Great Redistribution than a POTUS with a mandate to do so from The Greatest Republic in the History of Everything Awsome: that is, the voting public and Citizens OF the USA.
D:
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Ann Saphir: "say the U.S. economy has been growing, are you worried with the global interconnectedness, the low inflation globally.... that you may never escape from this zero lower bound?"
Yellen: "I would be very surprised if that's the case. That is not the way I see the outlook, or the way the commitee sees the outlook. Can I completely rule it out? I cannot completely rule it out. Really that's an extreme downside risk that in no way in the center of my outlook"
-0-
Note: "Economics", also known as the Dismal Science - isn't actually science. Psychology, maybe. Science no. At least not macroeconomics. It's impossible, IMPOSSIBLE, to apply the scientific method to macroeconomics. All you're left with is 'modeling' that may, or may not, reflect reality. The fact that we're moving on to QE4-eva, should tell you something about the 'success' of the Central Planners past models. And, lets suppose you did somehow manage to model a past event, there's absolutely NO WAY to know if that same model will have any reasonable predictability regarding a future event.
This is why we MUST and WILL continue to lose our Civil Rights. Our rights are 'variables' and in a Centralized Progressive Socialist paradise - those variables (freedoms) must be reduced one way or another. One way is to forcibly limit immigration, this may help to maintain a social homogeneity and reduce variables in terms of how people subjectively value. But, that still doesn't work well when dealing with structural problems (see: Japan). Another is simply to reduce the options people have, this has been done throughout history. Reducing the jobs that are possible (for example, you MUST do what your father does - and do so in much the same way, we limited licences for MD's and taxis medallions, and regulate just about everything: even who you can marry / or give a tax incentive to 'encourage' you to do certain things in certain ways). As well as, the State can limit internal movement. As well, the State must spy on it's Citizens to gather as much information to more accurate create it's models. This has been done is now at an all time high. The State also uses propaganda to influence your subjective experiences. All of this MUST occur so that the Central Planner's models are somewhat accurate. Of course, all of this means we become less prosperous (See: North Korea or a USA Government run welfare slum) and the models are never that accurate and quickly become obsolete.
Interestingly, Americans now hate limited government almost as much as they hate free markets / freedom. That's the fascinating part. Well, therefor, we have to become poorer. Poor people generally like to blame others for their problems. And, demagogues like Bernie Sanders sell them blame (See: 'virtual' Asian Slaves blamed for being 'forced' to make you your cheap super computer you bought for next to nothing OR out of the other side of his mouth he blames them for 'stealing' your job because they have a cheaper currency / currency manipulation [except when the Federal Reserve does it). All of which plays well to the 5th grade level voting republic.
Next stop QE4-eva. Then we watch another 10 years or so go by with no improvement in the economy.
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Except none of that is true. The US government began regulating long before 1947. During WWII prices were fixed and food, materials, and supplies were regulated. The government issued ration cards. That's a some very serious regulation. And then there was The Great Depression where government introduced some significant regulation (e.g. Glass-Steagall otherwise known as the US Banking Act of 1933 and then their was the creation of The Federal Reserve, and anti-trust legislation ). So as usual Michael, you have your facts screwed up. The government began regulating long before 1947...oops.
You claim that chart was published by Bloomberg. If that is so why does your chart sourced from a specious Libertarian advocacy site rather than Bloomberg?
Bloomberg:
The Richest Americans Are Winning the Economic Recovery
Their incomes have fully recovered—and then some
- September 17, 2015
U.S. Census Bureau data out Wednesday underscore just how lousy the recovery has been if you aren't rich. Looking at eight groups of household income selected by Census, only those whose incomes are already high to begin with have seen improvement since 2006, the last full year of expansion before the recession. Households at the 95th and 90th percentiles had larger earnings through 2014, the latest year for which data are available.
Median household income is 6.5 percent lower than in 2007, the year the recession started.
Overall, median income was 53,657 in 2014, not a statistically significant difference on an inflation-adjusted basis from 2013's median of 54,462. It's the third straight year that there's been no significant change, after two consecutive years of annual declines. That's happened even though the labor market has posted steady progress. The number of men working full time and year-round in 2014 increased by 1.2 million from a year earlier while the number of women gained 1.6 million. The changes in their real median earnings, however, weren't statistically significant.
Meanwhile, the official poverty rate was 14.8 percent, with some 46.7 million people in poverty—both little changed from 2013. The rate is 2.3 percentage points higher than it was in 2007.
-o-
Don't worry Joe, I'm sure the Great Redistribution is coming. Who knows? Maybe even within your lifetime. If there's one thing American culture supports it's Limited Government, Freedom of Expression, Personal Freedom, Civil Liberties, Private Property Rights and the Right to Personal Privacy..... LOL.... Oh, I meant MOAR FREE, which requires: Unlimited Government Political Correctness, Taxing Laborer's by the hour, the right to be shot in the head for selling flowers without the State's permission, 100% surveillance and a total loss of personal privacy, and as for private property, you don't even own your own body. You're a Citizen of, property of, the USA; as evidenced by the fact you can not legally smoke a weed growing in your backyard, you pay a tax on your bodies actions, you cannot even marry without the State's permission.
Oh, and of course, Americans LOVE never ending phony wars. Poisoning women and children with Agent Orange; burning them with White Phosphorous or Napalm, polluting their homes with low level radioactive bullets, all while being the largest polluter on earth itself.
So, don't worry you fantasy may last your lifetime or perhaps we'll get ourselves a Caligula soon enough? I see Bernie and Trump's doing well in the polls. Imagine what the next two will look like.
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A look back on predictions:
Predictions our 'Expert" University tenured (fat 6-figure) full Professors thought our Central Planners would do.
What WallStreet 'Economic Experts' predicted our Central Planners would do.
You know, taking in ALL of their combined wisdom and ALL of their "Economic Models" that were 'modelling' the... (in Joe's words) GREEEAT RECOVERY.
Isn't it wonderful being a Peon? Knowing the "Experts" have everything under control. Your retirement portfolio is safe in the hands of the "Experts". Although, one wonders.... just how do 'Experts' model the whims of a Tyrant? Or I should say our Central Banking "Regulators" (/Rulers /Financial Masters).
WSJ Survey: Economists Expect Fed Rate Liftoff in September
About 82% say first rate increase will be next month, while 13% expect central bank to wait until December.
- August 13, 2015
** NOTE: Referring to "Economics" as the Dismal Science does the word 'Science' a disservice. How about we use Dismal Flimflammary? Dismal Conartistry? When your so-called academic discipline has less chance of being correct than flipping a coin, then you know you're dealing with pseudoscience. We're not talking about predicting what the economy is going to look like in 50 years or even a decade. Not even the end of the year. We're talking a few weeks into the future. This supposed 'Science' that all these "Economic Scientists" are modeling can not even make a pissy 4 week prediction! That is pathetic. Utterly pathetic.
End The Fed
Predictions our 'Expert" University tenured (fat 6-figure) full Professors thought our Central Planners would do.
What WallStreet 'Economic Experts' predicted our Central Planners would do.
You know, taking in ALL of their combined wisdom and ALL of their "Economic Models" that were 'modelling' the... (in Joe's words) GREEEAT RECOVERY.
Isn't it wonderful being a Peon? Knowing the "Experts" have everything under control. Your retirement portfolio is safe in the hands of the "Experts". Although, one wonders.... just how do 'Experts' model the whims of a Tyrant? Or I should say our Central Banking "Regulators" (/Rulers /Financial Masters).
WSJ Survey: Economists Expect Fed Rate Liftoff in September
About 82% say first rate increase will be next month, while 13% expect central bank to wait until December.
- August 13, 2015
** NOTE: Referring to "Economics" as the Dismal Science does the word 'Science' a disservice. How about we use Dismal Flimflammary? Dismal Conartistry? When your so-called academic discipline has less chance of being correct than flipping a coin, then you know you're dealing with pseudoscience. We're not talking about predicting what the economy is going to look like in 50 years or even a decade. Not even the end of the year. We're talking a few weeks into the future. This supposed 'Science' that all these "Economic Scientists" are modeling can not even make a pissy 4 week prediction! That is pathetic. Utterly pathetic.
End The Fed
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It would be good to see you use credible sources like Bloomberg going forward. Yes the middle classes and poor have not benefited as much as wealthy folks. That really hasn't every been an issue of contention. But your solution, your Libertarian solution, of giving the keys to the kingdom to the wealthiest citizens like your beloved Koch brothers will not solve the wealth inequality problems we face. Your solutions will not solve those problems.Bloomberg:
The Richest Americans Are Winning the Economic Recovery
Their incomes have fully recovered—and then some
- September 17, 2015
U.S. Census Bureau data out Wednesday underscore just how lousy the recovery has been if you aren't rich. Looking at eight groups of household income selected by Census, only those whose incomes are already high to begin with have seen improvement since 2006, the last full year of expansion before the recession. Households at the 95th and 90th percentiles had larger earnings through 2014, the latest year for which data are available.
Median household income is 6.5 percent lower than in 2007, the year the recession started.
Overall, median income was 53,657 in 2014, not a statistically significant difference on an inflation-adjusted basis from 2013's median of 54,462. It's the third straight year that there's been no significant change, after two consecutive years of annual declines. That's happened even though the labor market has posted steady progress. The number of men working full time and year-round in 2014 increased by 1.2 million from a year earlier while the number of women gained 1.6 million. The changes in their real median earnings, however, weren't statistically significant.
Meanwhile, the official poverty rate was 14.8 percent, with some 46.7 million people in poverty—both little changed from 2013. The rate is 2.3 percentage points higher than it was in 2007.
-o-
Don't worry Joe, I'm sure the Great Redistribution is coming. Who knows? Maybe even within your lifetime. If there's one thing American culture supports it's Limited Government, Freedom of Expression, Personal Freedom, Civil Liberties, Private Property Rights and the Right to Personal Privacy..... LOL.... Oh, I meant MOAR FREE, which requires: Unlimited Government Political Correctness, Taxing Laborer's by the hour, the right to be shot in the head for selling flowers without the State's permission, 100% surveillance and a total loss of personal privacy, and as for private property, you don't even own your own body. You're a Citizen of, property of, the USA; as evidenced by the fact you can not legally smoke a weed growing in your backyard, you pay a tax on your bodies actions, you cannot even marry without the State's permission.
Oh, and of course, Americans LOVE never ending phony wars. Poisoning women and children with Agent Orange; burning them with White Phosphorous or Napalm, polluting their homes with low level radioactive bullets, all while being the largest polluter on earth itself.
So, don't worry you fantasy may last your lifetime or perhaps we'll get ourselves a Caligula soon enough? I see Bernie and Trump's doing well in the polls. Imagine what the next two will look like.
Yeah, thing would have been so much better if we had no Fed and the nation's economy would have been allowed to become the Great Depression 2.0. NO, I don't think you are going to find many takers on that one Michael.A look back on predictions:
Predictions our 'Expert" University tenured (fat 6-figure) full Professors thought our Central Planners would do.
What WallStreet 'Economic Experts' predicted our Central Planners would do.
You know, taking in ALL of their combined wisdom and ALL of their "Economic Models" that were 'modelling' the... (in Joe's words) GREEEAT RECOVERY.
Isn't it wonderful being a Peon? Knowing the "Experts" have everything under control. Your retirement portfolio is safe in the hands of the "Experts". Although, one wonders.... just how do 'Experts' model the whims of a Tyrant? Or I should say our Central Banking "Regulators" (/Rulers /Financial Masters).
WSJ Survey: Economists Expect Fed Rate Liftoff in September
About 82% say first rate increase will be next month, while 13% expect central bank to wait until December.
- August 13, 2015
** NOTE: Referring to "Economics" as the Dismal Science does the word 'Science' a disservice. How about we use Dismal Flimflammary? Dismal Conartistry? When your so-called academic discipline has less chance of being correct than flipping a coin, then you know you're dealing with pseudoscience. We're not talking about predicting what the economy is going to look like in 50 years or even a decade. Not even the end of the year. We're talking a few weeks into the future. This supposed 'Science' that all these "Economic Scientists" are modeling can not even make a pissy 4 week prediction! That is pathetic. Utterly pathetic.
End The Fed
The middle class and the poor have NOT BENEFITED AT ALL.
What don't you get?! The numbers are staring you in the face and yet you persist with your belief in Central Planning and expansion of Statism. Which is why I refer to Statism as a superstitious belief no different from any other religion.
Statism -vs- Sky Daddy
Big State, Little Gawd
Little State, Big Gawd
Big State, Little Gawd
Little State, Big Gawd
Only belief in the State is WORSE because it's predicated on one simple rule: The legal initiation of violence against innocent humans. Strangling someone to death for *gasp* selling a cigarette (their property) to an another so-called 'Free" adult American. Or, shooting someone in the head for *gasp* daring to smoke a weed they grew in their backyard. Or forcing laborers to pay a 'tax' on their labor PER HOUR.
Don't worry, we're not getting LESS Statism - nope. We're going to get much much more Statism. And we all get to lose many more Civil Liberties and pay much more tax along that way. You know, because MOAR and FREE.
What makes you so self-righteous? You have no idea if your ideas actually work.
If we did not have a Central Bank and Labor Tax, then there wouldn't have ever been a Great Depression 1 let alone 2. For example, we wouldn't be stuck using one currency, there'd be all sorts of different currencies. Some people would use a version of fiat, other's gold, others electronic and still other's would use types never invented. Most people would use a combination. This diversification would make it nearly impossible for one rouge institution (in this case, the Federal Government) to completely f*ck up society.
We also would not be engaged in trillion dollar wars. Society would be much freer and totally different.
I swear to God you sound like you're 5 years old. The Koch brothers exist IN THIS WORLD. With THIS Federal Government. That's a FACT. They, like all the other billionaires were bailed out by the Central Bank.
You have ZERO idea of what society would look like if Laborer's weren't forced to pay a tax on their labor. If the Central Bank weren't allowed to sell T-Bond's on their kids, grandkids and great grandkids future Labor. If we had a LIMITED Government that protect Private Property and ensured contract was enforced - life would be very very different.
No one knows what life might look like. But, at least it's be a more moral society. Unless you think a more immoral society is BETTER? Then you'd conclude, a freer society is a better society.
I know this is hard for you State-bots to grasp, but it's people who do things. With or without a State. Without a State we'd have to come up with solutions to our problems without resorting to threatening to shoot someone in the face. So, we'd have differing solutions to our problems - but we WOULD have solutions. And if these didn't work well, good, we'd invent other solutions. AND we'd continue to invent other solutions until we were satisfied. THAT is how FREE people operate!
Not that any of this matters. Americans are by and large functionally illiterate (thank you Government School) and read at a 6th grade level. Stupid stories about the Big Scary Koch Brothers sell well to children and adults with a child-like mentality. So, we'll get MOAR government. MOAR centralization. MOAR Central Planning. And finally we'll elect a Demagogue who promises to take the property from people who own something (bye bye SlumLords) and give to those less fortunate. We'll call this The Great Redistribution. During this time, I expect some freedoms to increase as Crony SlumLords lose their Regulatory Capture and status as Rent Seekers. I personally think this may work out so well as to warrant an 'extended' term. Twelve years instead of 8. And, soon enough, we'll have ourselves an official Aristocracy. Returning to the Historical trend-line. Life under an official Aristocracy will probably be pretty good for many Peons. Particularly those Peons who like being Peons.
Oh, and don't expect the Never-Ending-War on Everything to end. It's now too important to the "Economy". It CAN'T end. Your great grandchildren will probably be brainwashed in a Government School into fighting and dying for The Good of You Use The Roads.
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It's not self-righteous, it's Ethics.
It's simple really.
(1) Reduce institutionalized immorality in society
(2) Teach children to think rationally.
(3) Raise children peacefully (which means putting #2 into practice - no yelling, no hitting. If you want children to act in a certain manner you must (a) model the correct behaviour (b) make a good argument).
Yeah, its' not easy. We're all human. But this is what we strive for. This is the way forward. Not more violence / State. LESS. Which first means LIMITING the State... yet, again. Which is unlikely to happen any time too soon.
The State is a geopolitical entity. It's Government is an institution - which is to say, a collection of humans. What makes Public groups of humans different from Private groups of humans? Public groups of humans (Government) have the legal ability to INITIATE violence against INNOCENT humans. That's it. Which is why Thomas Jefferson sought to bind Government in Chains with the US Constitution. Not that it matters now. Now you have to pay the State a tax on your labor. You must ask it permission to perform that labor too - often paying it for a licence (regulatory capture) becoming a rent-seeker in the process.
Americans USED to understand that a LIMITED government was best. They USED to understand that their Civil Rights were inherent. INHERENT. Our rights do NOT come from, nor are they granted to us, by the Government. But, you needn't worry about Americans thinking too much about that. Most can't read above a 7th grade level! (Thank you Teacher's Unions and Government Schools).
What's worse, do you think? Rich billionaires WITHOUT the legal ability to initiate violence against innocent humans. Or rich billionaires WITH the ability to do so? The government bailed out the rich - because it works FOR the rich. The Central Bank? It's THEIR bank. That money in your pocket - that's THEIR money. You can have the debt. Which they sell on you and your children each and every day. You're paying for all sorts of public "goods" LOOONG GONE. Your children and their children will be paying, not just for the Wars of today - but of decades ago too! And they'll do so at a loss of their prosperity.
Most Socialistic countries can't even afford to have children at a replacement rate. THAT'S how shit Central Planning IS and ALWAYS will be.
Find a model and tell me what my tea cup is worth to me. You don't even need to see it. It's here in my hand. Go on, tell me.
Anyway, it doesn't matter. We're losing more Civil Liberties and, by definition, becoming less prosperous. We will eventually elect a demagogue. We will continue to fight in never ending wars until we run out of cannon fodder to throw at them. We might even live through the first Great Redistribution. Well, some of us will probably live a lot longer than others. I'd imagine.
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