BoatShoes;1478030 wrote:It is not a catastrophic problem. S.S. beneficiaries don't need a cent of your money in our monetary system. It could be ended tomorrow but nobody except fed officials grasp this. It blows away your narrative that you have worthless boomer suckling off your productivity after having ruined the country with unsustainable "debt". I realize, your whole act and vitriol is based on thinking that we're stuck on a fixed exchange rate wherein your arguments would apply but that's not the world we live in.

It's kind of like how you feel about theists...their whole belief set is based on a fraud. Yours just happens to be the fraud of a fixed exchange rate. :thumbup:

(Not to mention that the guy talking about "unrealistic solutions" has called for locking up single mothers, putting boomer retirees in cages, etc. lol).

You forgot requiring a ACT score of 30 to be able to vote. :thumbup:

GO FUCK YOURSELVES.

BoatShoes;1478025 wrote:People are so obsessed with the possibility of inflation. There has never been a hyperinflation

Who said anything about hyperinflation? Merely double-digit inflation will cut a person's savings in half in less than 7 years.

gut;1478711 wrote:Who said anything about hyperinflation? Merely double-digit inflation will cut a person's savings in half in less than 7 years.

There hasn't been double digit inflation since the supply-shocks of the seventies and the end of the Bretton-Woods system. It is hard to generate double digit inflation. The FED can't even hit its target rate of 2% and Japan has been trying to get any inflation at all for decades.

BoatShoes;1479035 wrote:There hasn't been double digit inflation since the supply-shocks of the seventies and the end of the Bretton-Woods system. It is hard to generate double digit inflation. The FED can't even hit its target rate of 2% and Japan has been trying to get any inflation at all for decades.

Perhaps the method by which the fed generates inflation doesn't work? Aren't you the one always on here saying the Fed can control interest rates and inflation so we have nothing to worry about? LOL :thumbup:

just another one of the run of the mill gross generalization Gen Y hate articles. "OMG one kid brought his parents to an interview. What a shitty generation."

http://www.marketwatch.com/story/10-things-millennials-wont-tell-you-2013-06-21

Pick6;1479056 wrote:just another one of the run of the mill gross generalization Gen Y hate articles. "OMG one kid brought his parents to an interview. What a shitty generation."

http://www.marketwatch.com/story/10-things-millennials-wont-tell-you-2013-06-21

tl;only read parts

BoatShoes;1479035 wrote:There hasn't been double digit inflation since the supply-shocks of the seventies and the end of the Bretton-Woods system.

Once again showing an astounding level of ignorance and naive belief that something which hasn't happened in 32 years (yes, 1981 - know your history) can't happen again.

"Hard to generate double-digit inflation" LMFAO. You must be the finance minister for some 3rd world country. It would explain a lot.

http://theeconomiccollapseblog.com/archives/do-you-want-to-scare-a-baby-boomer

Another article correctly labeling the boomers as the main culprit of the future downfall of the United States.

The whiner generation needs to stop whining though. :thumbup:

Does anyone but me think that this is really, really not going to end well?

It's not going to end well.

Con_Alma;1479695 wrote:It's not going to end well.

If only Rick Santorum was President...

The executive branch isn't going to fix this.

But it isn't helping, begging for young people to give up more capital in a generational theft scheme to save his reputation.

No one under 25 that is reasonably healthy should have to purchase a product they don't need, just to satisfy the promises of our government.

Manhattan Buckeye;1479719 wrote:But it isn't helping, begging for young people to give up more capital in a generational theft scheme to save his reputation.

No one under 25 that is reasonably healthy should have to purchase a product they don't need, just to satisfy the promises of our government.

Forced commerce is horrible idea....oops sorry. It's a tax. I hope we are seeing chinks int he legislative armor that put it into place.

Manhattan Buckeye;1479694 wrote:Does anyone but me think that this is really, really not going to end well?

Ehh, there will be some pain while they work out the kinks. Typically liberal play that ignores the transition costs. They took an opportunity to pass this - something most of America wanted - and simply ignored implementation as irrelevant.

They will(did) score political points for passing it, and then they will score more political points in future elections promising to fix it. In politics, that's a win-win.

gut;1479098 wrote:Once again showing an astounding level of ignorance and naive belief that something which hasn't happened in 32 years (yes, 1981 - know your history) can't happen again.

"Hard to generate double-digit inflation" LMFAO. You must be the finance minister for some 3rd world country. It would explain a lot.

Gut, the question is why did we have inflation in the 70's to early 80's? Was it because of excessive budget deficits? No. We actually had much smaller budget deficits than when Reagan took over and inflation subsided after 82. Was it because of excessive money printing? We had no money printing close to what we've seen in Japan and the United States. In the 70's we ended the Bretton Woods system in 71 and the supply of oil became constrained which both in tandem created a perfect storm for inflation. Congress passed the Natural Gas Policy Act of 1978 as part of the national energy act and allowed utilities to convert to natural gas and inflation subsided.

So, unless we're going to have a sudden supply shock the likes of which we saw in the 70's and we find a way to repeat the end of the Bretton Woods system (can't happen), that inflation-causing experience isn't going to happen again.

The supply shock possibility is one reason why we ought to spend money now ensuring our economy can run on alternative fuels and domestic natural gas.

sleeper;1479051 wrote:Perhaps the method by which the fed generates inflation doesn't work? Aren't you the one always on here saying the Fed can control interest rates and inflation so we have nothing to worry about? LOL :thumbup:

All the FED can do is hit its target interest rate. Depending on what is going on in the economy at the time this will have different effects. Right now we're at the zero bound so the best the FED can do is try to use the expectations channel (which they're doing poorly pretty much letting the whole world know they're treating the target rate like a ceiling than a target). Doing things the neo-monetarists suggest like "buying the whole world"/radical asset purchases above and beyond purchasing treasury securities and the like are really just out of bounds fiscal policy being done by the Central Bank.

BoatShoes;1479941 wrote:All the FED can do is hit its target interest rate. Depending on what is going on in the economy at the time this will have different effects. Right now we're at the zero bound so the best the FED can do is try to use the expectations channel (which they're doing poorly pretty much letting the whole world know they're treating the target rate like a ceiling than a target). Doing things the neo-monetarists suggest like "buying the whole world"/radical asset purchases above and beyond purchasing treasury securities and the like are really just out of bounds fiscal policy being done by the Central Bank.

Bernanke is done in 2014. I hope you apply for chairman.

BoatShoes;1479936 wrote:Gut, the question is why did we have inflation in the 70's to early 80's? Was it because of excessive budget deficits? No.

Again, you are completely clueless. Inflation can and will hit unexpectedly, like a freight train. It's been held in check only because of global deflationary pressures, but there's no predicting when that let's loose. However this policy is unsustainable. You seem to believe in the Goldilocks economy, oblivious to the bear sleeping in your bed

And we had double digit inflation in the 80's. Why do you continue to talk about the 70's even after I corrected you?

gut;1480162 wrote:Again, you are completely clueless. Inflation can and will hit unexpectedly, like a freight train. It's been held in check only because of global deflationary pressures, but there's no predicting when that let's loose. However this policy is unsustainable. You seem to believe in the Goldilocks economy, oblivious to the bear sleeping in your bed

And we had double digit inflation in the 80's. Why do you continue to talk about the 70's even after I corrected you?

Based on what evidence is there a bear sleeping in our bed? I acknowledged that we had double digit inflation in the early 80's.

Please read my post again:

Gut, the question is why did we have inflation in the 70's to early 80's?

but I pointed out that it ended after 1982 and dropped rapidly and this was due to the deregulation of natural gas in 1978 that undercut the ability of the foreign monopolist OPEC to cause inflation with a constrained oil supply. You're acting like double-digit inflation persisted throughout the decade which it did not. During this period of time where there was double digit inflation in the U.S. there was inflation all over the world. It was because of the supply shock.

We already have a free floating exchange rate so getting rid of our fixed exchange rate isn't going to cause inflation. The only fear is some kind of supply constrain of oil...all the more need to heavily invest in natural gas and green energy.

Look at the graph:

The path of "double digit inflation" fits my story. It began to rapidly drop following the deregulation of natural gas and and has not approached double digits since 1982.

sleeper;1479956 wrote:Bernanke is done in 2014. I hope you apply for chairman.

Obama is an idiot talking about Bubbles and Fears of Inflation (fucking lol doing his best Ron Paul interpretation) in his latest NY Times interview. It is unbelievable. I'm sure we'll get a repeat of his latest pick in Jeremy "Bubble Popping" Stein.

This graph is a little better.





As you can see, a burst in inflation following the end of the Bretton Woods System and then continued high inflation with the oil supply shocks of that time period and then as the deregulation of natural gas allowed the country to alleviate the pain of the supply shocks inflation went down and has never gotten close to that level sense.

The United States has never had excessively high demand-pull inflation and we're not going to any time soon with depressed demand and private debt deflation.

BoatShoes;1480237 wrote:Obama is an idiot talking about Bubbles and Fears of Inflation (fucking lol doing his best Ron Paul interpretation) in his latest NY Times interview. It is unbelievable. I'm sure we'll get a repeat of his latest pick in Jeremy "Bubble Popping" Stein.

It'll be a black man, I guarantee it.

This Boomer just used some of my kids' inheritance and bought a new 60" during lunch. Doing my part to help gen X & Yers who have to work at places like Sams Club where I bought it.