1974 predictions that came true

[Craig234]

Originally posted by: bamacre

Originally posted by: Evan
Bahaha :laugh:

The government uses CPI to calculate cost of living increases which effects social security payments. SS was 21% of our 2008 Federal budget. Now you are going to tell me that government has no incentive to fudge CPI?

Since you are interested in handing out hats, here's one specially designed for you. :laugh:

So, I take it you are not going to do the research I suggested?

 

[bamacre]

Originally posted by: Evan
^ lmao. CPI wasn't even originally developed by gov't officials, it was a direct (or technically indirect) result of research done by independent economists jackass, including Friedman and Samuelson. It has been used by administrations on both sides of the political spectrum for decades and several different Fed chairmen. Yet none of them have come out and revealed this conspiracy to fudge inflation #'s? rofl, no wonder most people ignore you and your threads. Keep linking to racist bigots like Rockwell though, it merely adds to the nutter element 90% of the board already ignores next to the 9/11 Truthers. :laugh:

None of this drivel is relevant to my post.

I think it is dangerous to call someone a CT'ist just because they question government.

I don't know why you think Lew Rockwell is racist.

 

[bamacre]

Originally posted by: Craig234

Originally posted by: bamacre

Originally posted by: Evan
Bahaha :laugh:

The government uses CPI to calculate cost of living increases which effects social security payments. SS was 21% of our 2008 Federal budget. Now you are going to tell me that government has no incentive to fudge CPI?

Since you are interested in handing out hats, here's one specially designed for you. :laugh:

So, I take it you are not going to do the research I suggested?

I responded to your post, although, no I wasn't going to do your research, as I thought it was a moot point anyway.

 

[Craig234]

Originally posted by: bamacre

Originally posted by: Craig234

Originally posted by: bamacre

Originally posted by: Evan
Bahaha :laugh:

The government uses CPI to calculate cost of living increases which effects social security payments. SS was 21% of our 2008 Federal budget. Now you are going to tell me that government has no incentive to fudge CPI?

Since you are interested in handing out hats, here's one specially designed for you. :laugh:

So, I take it you are not going to do the research I suggested?

I responded to your post, although, no I wasn't going to do your research, as I thought it was a moot point anyway.

I don't think the points you made removed the need for the research I suggested for you to be informed, and it's yoiur research, not mine. I've done it for myself already.

 

[First]

Originally posted by: bamacre

Originally posted by: Evan
^ lmao. CPI wasn't even originally developed by gov't officials, it was a direct (or technically indirect) result of research done by independent economists jackass, including Friedman and Samuelson. It has been used by administrations on both sides of the political spectrum for decades and several different Fed chairmen. Yet none of them have come out and revealed this conspiracy to fudge inflation #'s? rofl, no wonder most people ignore you and your threads. Keep linking to racist bigots like Rockwell though, it merely adds to the nutter element 90% of the board already ignores next to the 9/11 Truthers. :laugh:

None of this drivel is relevant to my post.

I think it is dangerous to call someone a CT'ist just because they question government.

I don't know why you think Lew Rockwell is racist.

You questioned a metric, CPI, which you don't understand and which the gov't didn't solely develop (and which is always being researched, improved, and peer reviewed), so the fact that you didn't understand that they didn't develop CPI, which clearly invalidated your original (bunk) claim that the gov't may have fudged part of CPI due to "incentive", is not my problem. As usual, you will run and hide.

 

[tfcmasta97]

Originally posted by: Evan

Originally posted by: bamacre

Originally posted by: Evan
^ lmao. CPI wasn't even originally developed by gov't officials, it was a direct (or technically indirect) result of research done by independent economists jackass, including Friedman and Samuelson. It has been used by administrations on both sides of the political spectrum for decades and several different Fed chairmen. Yet none of them have come out and revealed this conspiracy to fudge inflation #'s? rofl, no wonder most people ignore you and your threads. Keep linking to racist bigots like Rockwell though, it merely adds to the nutter element 90% of the board already ignores next to the 9/11 Truthers. :laugh:

None of this drivel is relevant to my post.

I think it is dangerous to call someone a CT'ist just because they question government.

I don't know why you think Lew Rockwell is racist.

You questioned a metric, CPI, which you don't understand and which the gov't didn't solely develop (and which is always being researched, improved, and peer reviewed), so the fact that you didn't understand that they didn't develop CPI, which clearly invalidated your original (bunk) claim that the gov't may have fudged part of CPI due to "incentive", is not my problem. As usual, you will run and hide.

If bamacre couldnt post about things he didnt understand, he'd have 17000 less posts. A loud dumbass is still a dumbass.

 

[bamacre]

Originally posted by: Evan

Originally posted by: bamacre

Originally posted by: Evan
^ lmao. CPI wasn't even originally developed by gov't officials, it was a direct (or technically indirect) result of research done by independent economists jackass, including Friedman and Samuelson. It has been used by administrations on both sides of the political spectrum for decades and several different Fed chairmen. Yet none of them have come out and revealed this conspiracy to fudge inflation #'s? rofl, no wonder most people ignore you and your threads. Keep linking to racist bigots like Rockwell though, it merely adds to the nutter element 90% of the board already ignores next to the 9/11 Truthers. :laugh:

None of this drivel is relevant to my post.

I think it is dangerous to call someone a CT'ist just because they question government.

I don't know why you think Lew Rockwell is racist.

You questioned a metric, CPI, which you don't understand and which the gov't didn't solely develop (and which is always being researched, improved, and peer reviewed), so the fact that you didn't understand that they didn't develop CPI, which clearly invalidated your original (bunk) claim that the gov't may have fudged part of CPI due to "incentive", is not my problem. As usual, you will run and hide.

And how is the fact that the government didn't develop CPI relevant?

All I said was the government has an incentive to fudge CPI. Do they not?

And why do you think Lew Rockwell is a bigot? Why do you always want to lump me into "911 truthers?" How is any of this relevant to this thread?

 

[First]

^ So the gov't has incentive to fudge CPI but, uh, they didn't because, uh, they didn't develop it? WTF are you even saying, or don't you know yourself?

And when you link to bunk web sites that are continually parroted and supported by CT'ers like Alex Jones (Rockwell et al) you're just not going to get away from the nutter label. And I can't help that you don't know Rockwell ghostwrote and/or supported by silence the shitty racist newsletters Paul apparently never read...for 2 decades.

 

[NoStateofMind]

Originally posted by: Evan
^ So the gov't has incentive to fudge CPI but, uh, they didn't because, uh, they didn't develop it? WTF are you even saying, or don't you know yourself?

Don't play coy. The fact that it wasn't created by government HAS NO BEARING on whether or not its use or misuse is applied. Are you trying to make the argument that government/FED DO NOT use CPI to gauge inflation? WTF are you talking about?

 

[First]

Originally posted by: PC Surgeon

Originally posted by: Evan
^ So the gov't has incentive to fudge CPI but, uh, they didn't because, uh, they didn't develop it? WTF are you even saying, or don't you know yourself?

Don't play coy. The fact that it wasn't created by government HAS NO BEARING on whether or not its use or misuse is applied. Are you trying to make the argument that government/FED DO NOT use CPI to gauge inflation? WTF are you talking about?

Then how is it being misused? It's not like the coke formula, which is hidden from sight. Anyone, anywhere, on any planet can calculate it and/or improve it.

 

[bamacre]

Originally posted by: Evan
^ So the gov't has incentive to fudge CPI but, uh, they didn't because, uh, they didn't develop it? WTF are you even saying, or don't you know yourself?

So you are telling me that the way CPI is calculated hasn't changed since it was developed?

And when you link to bunk web sites that are continually parroted and supported by CT'ers like Alex Jones (Rockwell et al) you're just not going to get away from the nutter label.

Alex Jones? I have never seen anything on lewrockwell.com contributed by him. I've never really been to any 911-truther websites, but I can't think of a reason why they'd link to lewrockwell.com, there's nothing there about 911 conspiracies.

And I can't help that you don't know Rockwell ghostwrote and/or supported by silence the shitty racist newsletters Paul apparently never read...for 2 decades.

This is all news to me. Link?

I would think that it would be difficult, and quite hypocritical, for such a staunch libertarian to be a racist.

 

[First]

Originally posted by: bamacre

So you are telling me that the way CPI is calculated hasn't changed since it was developed?

No, I'm not, and basically no one sane would conclude that based on what I wrote. CPI has changed a lot as the economy has changed. Hedonics. Multi-variate price analysis. Common sense shit that, if the gov't were fudging/altering without reasonable merit, would be a huge story since businesses use CPI as guidance for setting price/wage expectations. Losing trust in that would be huge, so a conspiracy to actively fudge it would be an absolutely killer story.

Alex Jones? I have never seen anything on lewrockwell.com contributed by him. I've never really been to any 911-truther websites, but I can't think of a reason why they'd link to lewrockwell.com, there's nothing there about 911 conspiracies.

Alex Jones isn't just a 9/11 CT'er. He's the leader of CT'ers around the world, resoundly supports Paul and Rockwell. Paul has done his show like what, 100 times?

This is all news to me. Link?

http://blogs.tnr.com/tnr/blogs...aul-s-newsletters.aspx
http://www.reason.com/news/show/124426.html

I would think that it would be difficult, and quite hypocritical, for such a staunch libertarian to be a racist.

And you claim Dems and Repubs are blinded by partisanship? :laugh:

 

[NoStateofMind]

Originally posted by: Evan

Originally posted by: PC Surgeon

Originally posted by: Evan
^ So the gov't has incentive to fudge CPI but, uh, they didn't because, uh, they didn't develop it? WTF are you even saying, or don't you know yourself?

Don't play coy. The fact that it wasn't created by government HAS NO BEARING on whether or not its use or misuse is applied. Are you trying to make the argument that government/FED DO NOT use CPI to gauge inflation? WTF are you talking about?

Then how is it being misused? It's not like the coke formula, which is hidden from sight. Anyone, anywhere, on any planet can calculate it and/or improve it.

It isn't so much misuse as it is misrepresented. When the media only reports Core CPI as the gospel when relaying inflation percentages its leaving out some very important products which we use everyday, food and energy. Headline CPI is all but ignored by mainstream media and economists when talking about inflation. They claim "its too volatile" to include, which is funny, until recently (last few months) its risen each month for the past 50+ YEARS. That's disingenuous to the population and a damned shame.

 

[First]

Originally posted by: PC Surgeon

Originally posted by: Evan

Originally posted by: PC Surgeon

Originally posted by: Evan
^ So the gov't has incentive to fudge CPI but, uh, they didn't because, uh, they didn't develop it? WTF are you even saying, or don't you know yourself?

Don't play coy. The fact that it wasn't created by government HAS NO BEARING on whether or not its use or misuse is applied. Are you trying to make the argument that government/FED DO NOT use CPI to gauge inflation? WTF are you talking about?

Then how is it being misused? It's not like the coke formula, which is hidden from sight. Anyone, anywhere, on any planet can calculate it and/or improve it.

It isn't so much misuse as it is misrepresented. When the media only reports Core CPI as the gospel when relaying inflation percentages its leaving out some very important products which we use everyday, food and energy. Headline CPI is all but ignored by mainstream media and economists when talking about inflation. They claim "its too volatile" to include, which is funny, until recently (last few months) its risen each month for the past 50+ YEARS. That's disingenuous to the population and a damned shame.

There's really nothing disingenuous about it; everyone informed knows food and energy isn't included there, and for terrific reasons; mostly because CPI is meant to measure domestic inflation, not international price inflation which clearly food and energy are greatly affected by. Besides, it's not hard to simply consider side-by-side food/energy inflation/deflation with the CPI stats. No one credible has ever claimed CPI should be used on its own, the gov't and economists around the world all openly agree that CPI is limited if its used entirely in isolation.

 

[glugglug]

Originally posted by: miketheidiot
the only major inflationary period in modern american history was happening while this imbecile was speaking, we certainly have not experienced any significant inflation in the last 28 years.

When I was a freshman in college (1991), a large 16" 1 topping pizza was $4 from most places, and there were deals where you could sometimes get 2 for $4. And no delivery charge tacked on, you tip whatever you want. Gas was around $0.87 a gallon.

Nowadays, good luck finding a "large" 14" for under $10. But I must be imagining this because we haven't had inflation during that time.

 

[miketheidiot]

Originally posted by: bamacre

Originally posted by: miketheidiot
do you even know what inflation is?

the only major inflationary period in modern american history was happening while this imbecile was speaking, we certainly have not experienced any significant inflation in the last 28 years.

:laugh: Are you fucking kidding me? :laugh:

Can you point to a major period on inflation between 1974 and the present, that wasn't the stagflation of the 70's, when this is allegedly from?

of course you can't, because you don't even know what inflation is most likely

 

[miketheidiot]

Originally posted by: bamacre

Originally posted by: Craig234

Originally posted by: bamacre

Originally posted by: miketheidiot
do you even know what inflation is?

the only major inflationary period in modern american history was happening while this imbecile was speaking, we certainly have not experienced any significant inflation in the last 28 years.

:laugh: Are you fucking kidding me? :laugh:

Go look up the historic US inflation rate over the last century, and then the inflation rate over the last 25 years, and then post the info.

Well, it would depend on how you calculate and define inflation.

I mean, how much was the average home in 1970? How much did a 6pack of coke cost in 1970? Gallon of gasoline? Health insurance? Sure incomes have risen, too, but to the same degree? Aren't you one to complain about the concentration of wealth, the shrinking middle class?

e^it

inflation is compounding and exponential, even small changes will have a large effect over the course of 40 years. that said, my parents bought my house in 1984 for 90k dollars, and could sell it now for about 160k, after finishing a bathroom, most of the basement and giving the trees 25 years to grow.

according to the op this was recorded in 1974, the only period of sinificant inflation in modern american history, which was caused by the conflagration of oil shocks and currency values returning to a proper value after being artificially depressed by the gold standard.

 

[miketheidiot]

Originally posted by: halik

Originally posted by: Citrix
wow, amazing everything this guy said back in 1958 has come true. thoughts?

http://www.wimp.com/robertwelch/

Funny this guy should call for gold backed currency in 1974 when that system collapsed 2 years prior...

not once, but twice. Everyone always forgets the Smithsonian plan. Text

 

[miketheidiot]

Originally posted by: bamacre

Originally posted by: halik

Originally posted by: bamacre

Originally posted by: Craig234

Originally posted by: bamacre

Originally posted by: miketheidiot
do you even know what inflation is?

the only major inflationary period in modern american history was happening while this imbecile was speaking, we certainly have not experienced any significant inflation in the last 28 years.

:laugh: Are you fucking kidding me? :laugh:

Go look up the historic US inflation rate over the last century, and then the inflation rate over the last 25 years, and then post the info.

Well, it would depend on how you calculate and define inflation.

I mean, how much was the average home in 1970? How much did a 6pack of coke cost in 1970? Gallon of gasoline? Health insurance? Sure incomes have risen, too, but to the same degree? Aren't you one to complain about the concentration of wealth, the shrinking middle class?

Your ignorance is showing. BLS maintains and adjusts the typical/average consumer goods basket that the CPI is calculated from. That is for example the recent CPI baskets would include sports drinks, cell phones, interwebs and so on, where as the 70s CPI would have bell bottom jeans or polyester suits.

Please educate yourself on the topic before speaking:
FAQ

Oh, I imagine government has zero incentive to misrepresent the numbers for inflation.

if there was any proof of this, there would be phd econometricians scrambling to get that Nobel price

 

[miketheidiot]

Originally posted by: Craig234

Originally posted by: bamacre

Originally posted by: Evan
Bahaha :laugh:

The government uses CPI to calculate cost of living increases which effects social security payments. SS was 21% of our 2008 Federal budget. Now you are going to tell me that government has no incentive to fudge CPI?

Since you are interested in handing out hats, here's one specially designed for you. :laugh:

So, I take it you are not going to do the research I suggested?

of course not, bamacre is an unthinking hack unwilling and probably unable of analyzing evidence rationally.

 

[sandorski]

Originally posted by: glugglug

Originally posted by: miketheidiot
the only major inflationary period in modern american history was happening while this imbecile was speaking, we certainly have not experienced any significant inflation in the last 28 years.

When I was a freshman in college (1991), a large 16" 1 topping pizza was $4 from most places, and there were deals where you could sometimes get 2 for $4. And no delivery charge tacked on, you tip whatever you want. Gas was around $0.87 a gallon.

Nowadays, good luck finding a "large" 14" for under $10. But I must be imagining this because we haven't had inflation during that time.

I'm calling Shens. Maybe for a crappy Frozen Pizza.

 

[miketheidiot]

Originally posted by: sandorski

Originally posted by: glugglug

Originally posted by: miketheidiot
the only major inflationary period in modern american history was happening while this imbecile was speaking, we certainly have not experienced any significant inflation in the last 28 years.

When I was a freshman in college (1991), a large 16" 1 topping pizza was $4 from most places, and there were deals where you could sometimes get 2 for $4. And no delivery charge tacked on, you tip whatever you want. Gas was around $0.87 a gallon.

Nowadays, good luck finding a "large" 14" for under $10. But I must be imagining this because we haven't had inflation during that time.

I'm calling Shens. Maybe for a crappy Frozen Pizza.

yeah this is complete bullshit. I remember ordering pizza around the mid 90's and prices weren't much cheaper then.

 

[retrospooty]

Originally posted by: Citrix
miketheidiot: wow just wow. you cant be serious in really believing that can you?

Citrix... Clearly you know nothing about inflation. Not the rates, and not the need for it. Its a normal and necessary thing in a growing economy. Our inflation has been pretty much nearly perfect in this country's history up to and including the past few decades. Just stop talking, you are making yourself look really dumb.

 

[LegendKiller]

Originally posted by: PC Surgeon

Originally posted by: Evan

Originally posted by: PC Surgeon

Originally posted by: Evan
^ So the gov't has incentive to fudge CPI but, uh, they didn't because, uh, they didn't develop it? WTF are you even saying, or don't you know yourself?

Don't play coy. The fact that it wasn't created by government HAS NO BEARING on whether or not its use or misuse is applied. Are you trying to make the argument that government/FED DO NOT use CPI to gauge inflation? WTF are you talking about?

Then how is it being misused? It's not like the coke formula, which is hidden from sight. Anyone, anywhere, on any planet can calculate it and/or improve it.

It isn't so much misuse as it is misrepresented. When the media only reports Core CPI as the gospel when relaying inflation percentages its leaving out some very important products which we use everyday, food and energy. Headline CPI is all but ignored by mainstream media and economists when talking about inflation. They claim "its too volatile" to include, which is funny, until recently (last few months) its risen each month for the past 50+ YEARS. That's disingenuous to the population and a damned shame.

It is not ignored. In almost every case I have seen them reported side by side from any credible source.

 

[LegendKiller]

Originally posted by: miketheidiot

Originally posted by: bamacre

Originally posted by: Craig234

Originally posted by: bamacre

Originally posted by: miketheidiot
do you even know what inflation is?

the only major inflationary period in modern american history was happening while this imbecile was speaking, we certainly have not experienced any significant inflation in the last 28 years.

:laugh: Are you fucking kidding me? :laugh:

Go look up the historic US inflation rate over the last century, and then the inflation rate over the last 25 years, and then post the info.

Well, it would depend on how you calculate and define inflation.

I mean, how much was the average home in 1970? How much did a 6pack of coke cost in 1970? Gallon of gasoline? Health insurance? Sure incomes have risen, too, but to the same degree? Aren't you one to complain about the concentration of wealth, the shrinking middle class?

e^it

inflation is compounding and exponential, even small changes will have a large effect over the course of 40 years. that said, my parents bought my house in 1984 for 90k dollars, and could sell it now for about 160k, after finishing a bathroom, most of the basement and giving the trees 25 years to grow.

according to the op this was recorded in 1974, the only period of sinificant inflation in modern american history, which was caused by the conflagration of oil shocks and currency values returning to a proper value after being artificially depressed by the gold standard.

He also conveniently forgets that wages have mostly kept up with inflation. Thus, whatever cost increases there have been have been matched by revenue increases.