tag:blogger.com,1999:blog-11906042.post6122748204688786577..comments2024-03-22T11:55:50.335+13:00Comments on Not PC: Cry havoc, and let slip the printing presses of doom [update 2]Peter Cresswellhttp://www.blogger.com/profile/10699845031503699181noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-11906042.post-75726443913470018652009-03-20T19:39:00.000+13:002009-03-20T19:39:00.000+13:00Isn't it amazing how little people in general unde...Isn't it amazing how little people in general understand about money and economics (and I include myself in that) yet they're so fundamental to our lives in so many ways.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-9476385538032767462009-03-20T13:58:00.000+13:002009-03-20T13:58:00.000+13:00Hi Lee, Yes, the Jaguar Inflation piece is very go...Hi Lee, <BR/><BR/>Yes, the <A HREF="http://mises.org/story/3329" REL="nofollow">Jaguar Inflation</A> piece is very good.<BR/><BR/>Regarding your comment on deflation, let's remember that <A HREF="http://georgereisman.com/blog/2009/01/falling-prices-are-antidote-to.html" REL="nofollow">falling prices are not deflation, but are actually the antidote to deflation</A>.<BR/><BR/>To put it another way: Don't be afraid of falling prices.<BR/><BR/>The 'demand' problem so frequently cited as the problem to be fixed with truckloads of fake money not in fact a lack of demand at all.<BR/><BR/>It'a a lack of demand AT THE PRICES PRESENTLY BEING CHARGED.<BR/><BR/>Prices need to drop (and remember too that one man's prices are another man's costs). Yet to the extent the Fed's inflationary injection has any effect, it will be to keep prices UP. <BR/><BR/>Thus, at the very time when prices (and therefore costs) need to fall, Helicopter Ben and the Folk at the Fed are doing all they can to effect the opposite.Peter Cresswellhttps://www.blogger.com/profile/10699845031503699181noreply@blogger.comtag:blogger.com,1999:blog-11906042.post-55038456780992692852009-03-20T07:23:00.000+13:002009-03-20T07:23:00.000+13:00Lee SYes. I read the Jaguar article. It's a good...Lee S<BR/><BR/>Yes. I read the Jaguar article. It's a good explanation, similar to Libertarian Sus's bar example. <BR/><BR/>It's interesting that poor old Jaguar seems to get used in stories such as that. There was another article (by Wendell Cox) in which was critical of a public transport boondoggle in the USA. In the article a simple economic analysis demonstrated that it would have been cheaper to give each transit passenger a new Jaguar XJ rather than build the rail. <BR/><BR/>LGMAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-18695143758927041092009-03-20T07:15:00.000+13:002009-03-20T07:15:00.000+13:00And yesterday evening the markets responded. NZ d...And yesterday evening the markets responded. NZ dollar up against the US. Bank economists starting to discuss what the Fed is doing to the US dollar and what that might actualy mean. <BR/><BR/> <BR/>BTW did anyone notice that Obama is talking about introducing a 100% tax on bonuses and other components of remuneration received by AIG executives. Exercise of power for grabs like that have got to be getting people thinking about the nature of the Obama regime...<BR/><BR/><BR/>LGMAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-88191838470151125302009-03-19T22:14:00.000+13:002009-03-19T22:14:00.000+13:00Interesting stuff. I own physical gold and silver ...Interesting stuff. I own physical gold and silver as a hedge and I follow Ludwig Von Mises and despise the central banking/fractional reserve system but I'm still unconvinced that precious metals are going to the moon any time soon. And I've read about 35 trillion articles saying they will. <BR/><BR/>Has anyone read "Jaguar Inflation" by Robert Prechter? I think it's on mises.org. <BR/><BR/>I went and heard Prechter talk in 2004 at the Symond's Street bookshop that was owned by the American Jim what's his name and have followed Prechter's Elliot Wave Theorist ever since. <BR/><BR/>I tend to agree with him that we're going to experience a period of prolonged deflation before any major inflation kicks in. He has some very good arguments as to why this may be so. Cheers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-14103303163899339952009-03-19T20:15:00.000+13:002009-03-19T20:15:00.000+13:00I say, bring on the Keynesian spending orgy, there...I say, bring on the Keynesian spending orgy, there is nothing like hyperinflation to expose the viciousness of fiat currency.mexaguilhttps://www.blogger.com/profile/11543512488519278616noreply@blogger.comtag:blogger.com,1999:blog-11906042.post-79296816964510521972009-03-19T14:48:00.000+13:002009-03-19T14:48:00.000+13:00Sort of related, here's a great - ironic -article ...Sort of related, here's a great - ironic -article that ably demonstrates the huge morass the US has fallen into (link from an Austrian site, but can't remember which):<BR/><BR/>http://www.foxnews.com/story/0,2933,509584,00.html<BR/><BR/>Quote:<BR/><BR/>"A Massachusetts bank that has defied the odds and remained free of bad loans amid the economic crisis is now being criticized by the Federal Deposit Insurance Corp. for the cautious business practices that caused its rare success.<BR/><BR/>The secret behind East Bridgewater Savings Bank's accomplishments is the careful approach of 62-year-old chief executive Joseph Petrucelli.<BR/><BR/>"We’re paranoid about credit quality," he told the Boston Business Journal.<BR/><BR/>That paranoia has allowed East Bridgewater Savings Bank to stand out among a flurry a failing banks, with no delinquent loans or foreclosures on its books, the Journal reported. East Bridgewater Savings didn’t even need to set aside in money in 2008 for anticipated loan losses.<BR/><BR/>But rather than reward Petrucelli's tactics, the FDIC recently criticized his bank for not lending enough, slapping it with a "needs to improve" rating under the Community Reinvestment Act, the Journal reported."<BR/><BR/><BR/>Ya gotta laugh ... I guess.Unknownhttps://www.blogger.com/profile/07707604974739887751noreply@blogger.comtag:blogger.com,1999:blog-11906042.post-75324026686069479292009-03-19T12:31:00.000+13:002009-03-19T12:31:00.000+13:00So I guess now's the time to purchase some shares ...So I guess now's the time to purchase some shares in wheelbarrow manufacturers.teh stevehttps://www.blogger.com/profile/00077335619115121995noreply@blogger.com