Kamala Trump
Verified User
All impacts on price are not inflation. You're just a confused idiot.
Blame Congress for Inflation
- Thread starter Topspin
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All impacts on price are not inflation. You're just a confused idiot.
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The Almighty
Again with your nonsense? How can you even attempt to justify that? That only the portion of price increases due to monetary/fiscal policy are inflationary? Do you and I feel the pain any less if oil increases by $20 barrell if due to speculation or demand increases vs. increases due to a declining dollar valuation? No, we do not.
Only monetary purists believe that nonsense.
and just so you and obfuscate don't get confused again.... NO, I am not advocating a pure cost-push position. I think monetary policy is the largest driver of inflation. Without question. But it is not the only driver.
No not you, I was talking about the other idiot! Sorry, I should have remembered to “NAME THAT IDIOT”. LOL
Get off your high horse Epic. He mouths Friedman and that’s all he does. He’s an ideologue who happens to suck the same dick you do – Milton’s.
And that’s all he is.
Kamala Trump
Verified User
Because the definition of inflation is price increase DUE TO MONETARY SUPPLY. Price changes due to other reasons are not inflation. It's really simple.
More precisely that they ARE INFLATION.
The pain of high prices has nothing to do with their cause. And price increases cause by money supply are inflation. Other influences are not inflation.
Other causes of price increase are not inflation.
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The Almighty
You confused me by posting that response to one of his posts that addressed me and not toppy.
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The Almighty
I obviously beg to differ. Obfuscate is a Friedman disciple.... one who claims to understand there are a variety of economic theorists out there, yet who follows blindly behind Friedman.
Perhaps you would care to explain what Obfuscate and Asshat refuse to do...
How do you explain the inflation in costs of goods/services that is NOT due to monetary policy? Or do you proclaim as they do that price increases really aren't inflationary unless they are due to monetary policy and that the remainder of price increases really aren't increases?
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The Almighty
No, that is the monetarist's strict definition of inflation. That is not the only definition. The traditional definition of inflation is a rise in prices of a general basket of goods.
Again, it is largely a result of monetary policy to be sure, but again... to act as though the remainder of price increases is not inflationary is idiotic at best.
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The Almighty
Is Obfuscate still in college? Or recently out of it?
I don’t know, but I picture him like that kid in Good Will Hunting, who is quoting from a book to impress the janitor, but the janitor is a genius and knows that the pompous fool is only quoting from a book, and even from what page, and makes him look like the puffed up dolt that he is.
This kid has got some ego, but I have never seen anything to back that up, other than hysterical claims of being “the only one on this thread who didn’t have to google”.
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The Almighty
Hmm... I have not had much interaction with him. But as soon as he used a Gumby-esque strawman, he lost my respect. But he does have Asshat on his side in this, so that should provide him some comfort. He also seems to posess an inability to comprehend what it written.
I do find it funny that he has gone twice now to the toppy standby of "I clearly know more than you" line of argument.
I wait patiently on his once again attempting to tell us how price increases in commodities that are not due to monetary policy are not inflationary. They are "just" price increases.????
Obfuscate
Powered By: Capitalism
Obfuscate
Age: 31
Vice President of a Construction Lending Bank. $80,000,000 line
Licensed Home Builder in Minnesota
Degree in Economics - U of M
Even Keynes believed that the Quanity Theory of Money was true in the long run thus his famous quote:
"In the long run we're all dead".
You guys are out of your league. The rise in energy is mainly money inflation since 2001. Without that we wouldn't be in this situation. I thought you two were smarter than the general public I guess not.
"Half the price of gas is inflation and the speculation inflation creates"
Steve Forbes on too low of Fed Funds rates.
Age: 31
Vice President of a Construction Lending Bank. $80,000,000 line
Licensed Home Builder in Minnesota
Degree in Economics - U of M
Even Keynes believed that the Quanity Theory of Money was true in the long run thus his famous quote:
"In the long run we're all dead".
You guys are out of your league. The rise in energy is mainly money inflation since 2001. Without that we wouldn't be in this situation. I thought you two were smarter than the general public I guess not.
"Half the price of gas is inflation and the speculation inflation creates"
Steve Forbes on too low of Fed Funds rates.
Kamala Trump
Verified User
Language lesson for Superfreak:
Often, definition of words include a cause. For instance, "murdered" and "killed" both are descriptive of a dead person, however, they vary based depending on the cause that put them in the dead state. "Murdered" is similar to "killed" but is further refined by including a CAUSE as part of the definition. We say someone is "murdered" when they are put into a state of being dead intentionally by another person. It's the same thing with "inflation". Yes, it is a price increase, but the definition includes a cause with it like "murder" does. Inflation is specifically price increase DUE TO MONETARY SUPPLY. There may be also components of the price increase that are supply/demand related, but those components are not "inflation", as it is defined in the field of economics.
Often, definition of words include a cause. For instance, "murdered" and "killed" both are descriptive of a dead person, however, they vary based depending on the cause that put them in the dead state. "Murdered" is similar to "killed" but is further refined by including a CAUSE as part of the definition. We say someone is "murdered" when they are put into a state of being dead intentionally by another person. It's the same thing with "inflation". Yes, it is a price increase, but the definition includes a cause with it like "murder" does. Inflation is specifically price increase DUE TO MONETARY SUPPLY. There may be also components of the price increase that are supply/demand related, but those components are not "inflation", as it is defined in the field of economics.
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The Almighty
Try reading the bolded portion again Obfuscate...