the droughts and fires and floods, and hurricanes, etc., have always been a problem for production,
Normal weather fluctuations are always part of normal prices, sure - but which part of " record bad weather causes record high prices" concept was difficult for you to understand, liar?
It's one more item added to the long, unanswered list of your lies.
It's been less that two years since the owners of a small business minting gold coins were imprisoned and all their assets stolen by the federal government.
If you mean the "Liberty Dollar" case then it happened not two but four years ago, and the guy was recently found guilty by a jury on money laundering and other crimes.
He has not been sentenced yet and the forfeiture trial is still ongoing - i.e. his assets are still his, not "stolen".
Take a look at the coins, it's easy to mistake them for specially minted US dollars and complaints from customers about those 'fake dollars' is what brought him the federal charges. He should have made them look more clearly distinct
[...] shortages of supply in commodities? On which planet?
On the third (blue) planet of the Solar System, Milky Way, liar.
It is clearly not the planet you are living on.
Oil shortages? Peak oil shortages in supply combined with unprecedented growth of oil demand from China.
Sugar shortages? Record bad weather in Brasil and a record typhoon in Australia hitting the biggest sugar production area (global warming, anyone?) hurting supplies combined with unprecedented sugar demand from India - the largest sugar consumer on the planet.
Wheat shortages? Unprecedented heat-wave in Russia (global warming, anyone?) and a wheat export ban by Russia - combined with weak wheat production elsewhere as well.
Do basic supply and demand pressures mean anything on the planet you live on? Do you know the concept of inflexible demand, where advanced countries will pay pretty much any price to get the wheat they want, even if it means that they starve poorer countries?
But you really need to address the lies of yours I've already exposed, before getting into new topics
Why? Econ 101. Commerce comes to a grinding halt if I'm trying to pay you with chickens and you only accept widgets, and you need to pay somebody with gold. It doesn't work.
It's amazing that the human race managed to conduct commerce for thousands of years before the Fed came about.
Have you ever wondered why it took such a long time for modern civilization to evolve, and why civilization basically exploded after the 18th century?
Centralized money, banks and easier access to credit was an important factor: money could be pooled and risk takers did not have to convince someone face to face to take up that risk personally - a pooled entity (banks, big investors) could serve that role more productively.
Before that, during the static gold standard, the lack of liquidity was stifling innovation big time, for thousands of years. Only the super-rich could afford large-scale risk-taking, and their number was low and highly concentrated. More money, more pooling of money and better (and faster) distribution of money activated incredible reserves of the human race.
Just as a side-note, he has (again) not replied to my criticism of the figures he gave:
In the above post he compiled a variation of those lies: pointing out commodities bubbles (which were mostly caused by physical shortages on a finite planet with growing population, well before "money printing" began after the 2008 crisis) while not pointing out deflationary forces that balance out price bubbles. You can see how real aggregate inflation looks like, in the links I provided above.
He clearly knows how to propagate Fox News anti-government propaganda, but sadly he does not know how to interpret and defend them.
Gold-bug trolls are not what they used to be!
This.
You annihilated all the gold-bug arguments in one simple paragraph.
Fact is that the average citizen can buy ten times more loaves of bread than 200 years ago, financed by one year's honest work. They can also buy infinitely more cars, computers - and get guaranteed health care as a citizen's right in most modern countries.
That the absolute numbers printed on the price sticker are increasing slightly every year does not matter much as long as the numbers coming in from your weekly pay-check have numbers increasing by at least as much .
If you check those two numbers over time, then you'll see that indeed the purchasing power of the average US citizen is increasing. (+9% over the last 8 years depicted by that graph - but the trend is very similar 50, 100 or 200 years back as well.)
Note that the real, effective multiplier is a lot lower than even the 10:1 Fed limit: only the liquidity that exits from the financial system into the real economy is actually inflationary. Monies banks owe to each other in their elaborate gambling schemes using derivatives redistribute their profits amongst each other (and act as a tax on the rest of society), but are not bona fide inflationary.
Just a warning to those who feel like replying to this "roman_mir" gold-bug troll, he's a serial liar here on Slashdot:
He lied about US purchasing power.
He lied about 19th century US economics.
He lied about taxation levels of the country you supposedly live in.
He lied about 19th century depressions.
He lied about the current level of inflation.
He lied about the consumer price index.
He just posts his lies and if anyone actually points out the inconsistencies in his arguments he runs away into another thread
In the above post he compiled a variation of those lies: pointing out commodities bubbles (which were mostly caused by physical shortages on a finite planet with growing population, well before "money printing" began after the 2008 crisis) while not pointing out deflationary forces that balance out price bubbles. You can see how real aggregate inflation looks like, in the links I provided above.
His motivation seems to be that he's all invested into the current gold bubble (no diversification? Yikes
JFYI.
In fact the prices for homes and rent must be falling in normal market conditions in a recession (depression actually)
That's the first sliver of truth in your long series of lies - and it promptly contradicts your earlier position - you did not realize that, right?
First note that it's not just residential housing that is in decline - but commercial real estate as well, affecting businesses and the cost of services: it's now cheaper to rent space in the mall, for example.
So what happens, liar, if you combine the deflationary effects of "lower housing prices" (which you finally admitted exists) and other price drops (such as lower labor costs, lower capital costs, etc.) with the inflationary effects of "higher raw commodities prices" which you too pointed out exist? We get to the real inflation data that is an average formed by the price drops and the price increases - not the 76% lie you are still propagating
Btw., the inflation data I linked to here is not government published but it's the MIT Billion Price Index which is a daily updated index derived from the prices published by thousands of businesses. Do you claim that those thousands of independent businesses are all complicit in some sort of vast global conspiracy to hide true price levels?
Also, you have still not replied in substance to the earlier lies of yours that I've exposed:
You lied about US purchasing power.
You lied about 19th century US economics.
You lied about taxation levels of the country you allegedly live in.
You lied about 19th century depressions.
You lied about the current level of inflation.
You lied about the consumer price index.
Are you able to think and reason for yourself, liar, or are you only repeating right-wing talking points without knowing what they really mean and without being able to defend them?
[...] driving 10 miles over the speed limit in a 25 [...]
FYI, the energy your 2 tons car (or 0.2 tons motorcycle) carries at 35 mph is exactly twice the energy it carries at 25 mph.
This is non-intuitive but true, comes from "energy = mass*velocity*velocity". Our universe is weird.
So if you get involved in an accident driving "only" 10 mph more you can cause twice as grievous injuries to pedestrians and other drivers.
This is why speeding limits have to be enforced in a non-linear fashion.
Registration problems on the other hand are of purely administrative nature, they do not directly endanger other citizens.
Just wondering, you said in your first comment that a cop came in over a noise complaint, and you also said:
I ran into the kitchen where there was like 20 people.
So the kitchen had 20 people already - were you partying? How late was it?
What I'm trying to get at, was the noise complaint, by any chance, justified?
Even well intentioned cops will do a lot of weird shit if they think they are rightfully protecting others from you .
Yet Canadians are happier about their universal health-care system than US citizens - and Canadian GDP proportional health care costs are half that of the US.
I think you got tricked by British tabloids: they are able to complain about Grandma's Sunday cookies, let alone about a huge health care system that covers and helps tens of millions of people in some of the most dramatic moments in their lives
The thing is, in the US there are huge private monopolies that have cornered the market for fun and profits and US citizens still don't have universal health-care - you cannot really do worse than that.
Let me just recount the last 3 days of your "hard money arguments" here on Slashdot, for everyone's education and amusement:
You lied about US purchasing power.
You lied about 19th century US economics.
You lied about taxation levels of the country you supposedly live in.
You lied about 19th century depressions.
You lied about the current level of inflation.
You lied about the consumer price index.
That's just the first 6 lies of yours I found interesting enough to counter - there's many more.
But instead of trying to prove your viewpoint fairly, instead of working to remove your
stigma of a serial liar you come up with yet another new lie?
if measured in coffee, the value of USD decreased at the lows by 76%.
Oh, now we at last learn about the big underlying concept of your ideology,
you re-defined everyday purchasing power to mean the price of 37,500
pounds of raw coffee bean standard contracts and the price of
troy ounces of gold?
So out of tens of thousands of products and services that shape our everyday life
whose average price influences our purchasing power you managed to pick the
two (raw, unprocessed, with no labor costs included) luxory commodities that have
experienced the largest bubbles in recent history?
Wow!
How about the price that impacts most families in the most direct way: the price
of rent (or the price of acquiring a new house)? How about the price of of a loaf
of bread, which has remained virtually unchanged despite a huge increase in grain
prices due to the record hot weather in 2010? How about the price of a car and
the cost of a haircut?
These are the various everyday living cost components that modern price indices
weigh and which influences purchasing power, and yes, the price of coffee is a small part of
it as well, but not just the price of the raw beans, but the price of a
finished coffee product such as a cup of coffee, which has various
types of labor and service costs included
If you do that, you get nuanced inflation metrics like this one - which not only
shows how moderate inflation is at the moment but also shows how the US was (and still is)
flirting with dangerous deflation territory
Not the 76% big lie you are trying to tell us here.
[...] while taking the government numbers at their face value, [...]
The last refuge of the delusional liar: "your numbers must be wrong!".
Here go check the data of an independent inflation tracking project, the Billion Price Index: a daily updated price index derived from literally millions of online prices published not by the government but by thousands of businesses.
The BPI confirms the CPI metrics.
So this confirms once again that you are a serial liar.
Here is what you need to do: stop reading my comments. bye bye.
The last refuge of the fake libertarian: "go, go, go away, I do not want to read your comments, I'm unable to counter them!".
This is Slashdot, not Fox News
proved that inflation was 76% since 2003 counted in US dollars.
In that thread you've told yet another lie: that inflation is somehow coupled to the current gold price bubble. That is not how inflation is defined, but nice try
In reality, despite two commodities bubbles food prices increased by only 20-25% since 2003 (not 76%) - and the second bubble is at its peak right now.
Note that from the graph you can see that since early 2009 (since post-financial-crisis 'money printing' began) up to late 2010 food prices have changed very little: the effects of deflationary forces. Even the commodities bubble of late 2010 and early 2011 has increased prices only by 5%.
That puts another nail into the coffin of your "an increasing monetary base means hyperinflation" hard-money economic theory.
You need to start proving your points with real data and real arguments and you need to stop coming up with new lies if you do not like being called a liar.
Old programmers never die, they just hit account block limit.
