Posted on 11/01/2007 7:01:20 PM PDT by Travis McGee
I think it's wishful thinking on your part because you DON'T want to believe the growth numbers.
When Schiff can back up his words with mathematics; I’ll listen.
However, as long as all that he presents are his “feelings”, then he’s just another Economic AlGore. He’ll have a fanclub, I sure, ... (they all do)... heck, he maybe even win an award or two; but that’s about it. [shrug]
Bring numbers or stay home, Schiff.
well yes that’s true, quality does count. The Chinese just build enough product overage to cover the replacements. They assume you will tire of sending them back before they run out of replacement junk to send you.
I would like to believe those numbers but I am always reminded that they are produced by a government agency. I tend to believe the stock market and the commodities market much more than the govt. You should too.
Why raise interest rates? Why not lower to the lowest possible rate and then stop printing money?
You are correct. The inflation numbers from the government don’t include a lot of things, like food, energy, taxes etc. Things that are absolutely going up more than .8%
Doubtful.
Consider the lowly can of tuna. It has reached nearly farcical water/solid proportions.
While the price PER CAN has increased a relatively modest 25% in price over a two year period, the contents have dropped by at least 50%.
Apparently, the canneries cannot afford to retool the plants to stop using the old 16oz can so they just change the water/oil ratio.
The label is still correct (ie the former 16oz can of tuna now holds around 7-8 oz of fish) only the price and amount have changed.
There are many anecdotal examples like this, universally adjusted by the experts to discount their significance.
At the end of the day, people, regardless of income levels have a sinking sense "something is not right"
They are correct.
Best regards,
Peter Schiff is a noted Bear, well known as 'Dr. Doom'. He was trained by his father, Irwin Schiff, who wrote books explaining why you don't have to pay your income tax. As a result he is now in a Federal Pen!
What are you buying that’s up 15 to 17% in the last 12 months. Even dairy products except Milk aren’t up that much.
Exactly right. The forclosure numbers are up in some formerly “hot” markets. I’m here in WPB, FL and the For Sale signs on homes are like campaign signs on a monday before election day. Most are on homes that were purchased at the peak and not on those of us who bought 5 or more years ago.
Huh? Interest rates are controlled by the amount of money we print. If interest rates were lowered to the ‘’lowest possible levels’’ it would be because we were printing money like Robert Mugabe.
Anecdotal = unscientific.
The inflation # DOES include food & energy in them. They also release a seperate # that does not. If you do not see the word "core" it is the overall inflation including food & energy.
So why are grocery stores showing annual growth of 1-5% and not 25+% in the last 2 years? Surely you don’t think we’ve cut eating amounts by 25% in 2 years.
Whatever
Best regards,
Best regards,
The government produces at least two rates of inflation. One, 'Core Inflation', does not include food and energy, the other does. As far as taxes are concerned, they are not generally considered consumable goods.
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