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Thread: Fedís Dudley: Hurricanes will boost economic activity over the long run

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    Quote Originally Posted by RobertLafollet View Post
    No.

    If the Fed chooses to print a trillion dollars to buy debt that is new money. It was not created by debt. If the treasury creates a trillion dollar copper coin and gives it to China to reduce our debt that is not created by debt.
    It is worthless if not backed by something.

    Do you know the definition of INFLATION?
    Last edited by Oskar; 09-13-2017 at 12:47 AM.

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    Quote Originally Posted by Oskar View Post
    It is worthless if not backed by something.

    Do you know the definition of INFLATION?
    Ooooh, pick me. I can think of about 10 different types of inflation off the top of my head:
    1. Currency inflation
    2. M1 inflation
    3. M2 inflation
    4. Consumer Price Inflation
    5. Personal Consumption Expenditures
    6. Producer Price Inflation
    7. Import Price Inflation
    8. Export Price Inflation
    9. Employment Cost Inflation
    10. Wage inflation


    Which one did you want a definition for, and how detailed? I can give anywhere from an elementary school level to PhD. level definition.
    "It ain't bragging if you can do it." - Dizzy Dean

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    Quote Originally Posted by pinqy View Post
    Ooooh, pick me. I can think of about 10 different types of inflation off the top of my head:
    1. Currency inflation
    2. M1 inflation
    3. M2 inflation
    4. Consumer Price Inflation
    5. Personal Consumption Expenditures
    6. Producer Price Inflation
    7. Import Price Inflation
    8. Export Price Inflation
    9. Employment Cost Inflation
    10. Wage inflation


    Which one did you want a definition for, and how detailed? I can give anywhere from an elementary school level to PhD. level definition.


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    [QUOTE=RobertLafollet;1539958]No.

    If the Fed chooses to print a trillion dollars to buy debt that is new money. /QUOTE]
    Helicopter drop?

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    Quote Originally Posted by Crunch View Post
    Since I used to be one of the economists (commodities analyst) who calculated the Consumer Price Index, and since I used to teach the subject to professionals. Yes, I know almost everything about this topic.
    "It ain't bragging if you can do it." - Dizzy Dean

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    Quote Originally Posted by pinqy View Post
    Since I used to be one of the economists (commodities analyst) who calculated the Consumer Price Index, and since I used to teach the subject to professionals. Yes, I know almost everything about this topic.


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    Quote Originally Posted by pinqy View Post
    Since I used to be one of the economists (commodities analyst) who calculated the Consumer Price Index, and since I used to teach the subject to professionals. Yes, I know almost everything about this topic.
    Economists are a dime a dozen.

    If you placed all the economists end to end from here to the Sun, they would never reach a conclusion.
    Last edited by Oskar; 09-13-2017 at 11:16 AM.

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    Quote Originally Posted by Oskar View Post
    Economists are a dime a dozen.

    If you placed all the economists end to end from here to the Sun, they would never reach a conclusion.
    Hey, Economists have correctly predicted nine of the last three recessions.

    But my point was that there is no such singular force/entity as "inflation," and not all the different types move together. You can have monetary inflation without price inflation, and vice-versa. Producer Price, and Import Price inflation occur before Consumer Price inflation. Employment Cost can increase at a much different or opposite rate than wage inflation. And even with monetary inflation, M0, M1, and M2 can all move differently depending on a variety of circumstances.

    I'm not citing opinion, I'm stating facts based on generally agreed upon definitions.
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    Quote Originally Posted by pinqy View Post
    Hey, Economists have correctly predicted nine of the last three recessions.

    But my point was that there is no such singular force/entity as "inflation," and not all the different types move together. You can have monetary inflation without price inflation, and vice-versa. Producer Price, and Import Price inflation occur before Consumer Price inflation. Employment Cost can increase at a much different or opposite rate than wage inflation. And even with monetary inflation, M0, M1, and M2 can all move differently depending on a variety of circumstances.

    I'm not citing opinion, I'm stating facts based on generally agreed upon definitions.
    I am saying that if money gets printed without a GDP to back it, inflation will result.

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    The U.S. dollar experienced an average inflation rate of 2.92% per year between 1900 and 2014. $100 in the year 1900 is worth $2,666.46 in 2014, a 2566.5%increase in prices. The inflation rate in 2014 was 1.62%.

    And you may find yourself Living in a shotgun shack
    And you may find yourself In another part of the world
    And you may find yourself Behind the wheel of a large automobile
    And you may find yourself in a beautiful house, With a beautiful wife
    And you may ask yourself, well, How did I get here?

    Letting the days go by, let the water hold me down
    THE TALKING HEADS




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