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  1. #61
    Senior Member Gerbah's Avatar
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    Quote Originally Posted by ajblaise View Post
    Which is when the Fed can raise interest rates, to counter inflation. It's a beautiful system.

    In fact, they just did that. And the value of the dollar went up.

    Dollar Rises for Sixth Week Versus Euro After Fed Rate Increase - BusinessWeek
    LOL, oh ok. I was wondering why they did that. How long can they do that for? Is it just postponing the inevitable or do you think they can keep it up indefinitely?
    the shoheen ho of the wind of the west and the lulla lo of the soft sea billow - Alfred Graves

  2. #62
    Don't Judge Me! Haphazard's Avatar
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    Quote Originally Posted by Gerbah View Post
    LOL, oh ok. I was wondering why they did that. How long can they do that for? Is it just postponing the inevitable or do you think they can keep it up indefinitely?
    What, raise rates to counter inflation? They can do it indefinitely. That's like, what they're there for.

    Keep it rising compared to the other currencies? Well, that depends on the other currencies, not the Fed.
    -Carefully taking sips from the Fire Hose of Knowledge

  3. #63
    not to be trusted miss fortune's Avatar
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    Quote Originally Posted by highlander29 View Post
    I read earlier today that Americans are an optimistic and resilient bunch. We believe that economically we'll be better off in the future. What do you think?

    - The future role of the US in the world economy

    - Value of the dollar

    - Distance between haves and have nots

    - Globalization of the workforce

    - The service economy

    - The deficit

    What do you think it will be like in 5 years, 10 years, 20 years? How will US citizens be impacted?
    I really don't think that the future holds things that are quite as bad as some people predict

    I actually think that the economic downturn made us rethink some of our dumber past policies that got us into trouble in the first place and have led us to think at least of some funding for things that benefit the general public (healthcare, education...)

    I'm actually more upset about some of the incredibly retarded legal/policy things that the last administration did than I am about the economy when taking the long run view (most notably the supreme court and no child left behind )

    We've bounced back from dips in the past, other countries come back from the brink of failure and succeed- sometimes even after being rather devastated and indebted from a war (look at parts of Europe!)

    I think that if we take this as a learning experience, which we're finally showing some hints of doing, things will turn out better- maybe not as rediculously inflated as they were in the late 90s, but even to end up more like some of the more mature economies in the world wouldn't be a tragedy... sometimes learning moderation can save your ass

    I think that the value of the dollar being lower can actually stimulate some production jobs here in the future and help lower the flow of jobs out of the country (workers earn money because our products are cheaper-> they have money to spend-> more jobs are created to take care of thier disposable income-> this helps the have nots-> people keep making more and spending more so more taxes are payed-> the deficit shrinks-> we become somewhat of a role model, not a case of what not to do )

    not saying that things can be fixed overnight, and definitley not saying that the system is perfect, but I'm saying that the forecast isn't all doom and gloom like it's sometimes made out to be

    *** I only read the op, i didn't feel like getting my opinion influenced before posting my reply- now I shall read and see if I reiterated anyone else, if I did, sorry!

    ***** oh god, I really do sound vaguely keynsian... and like I should have a job with the obama admin... oh well
    “Oh, we're always alright. You remember that. We happen to other people.” -Terry Pratchett

  4. #64
    Administrator highlander's Avatar
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    Quote Originally Posted by Babylon Candle View Post
    This post got away from me ...I do however think it is a very accurate depiction of America. Maybe I will write a book ...
    Excellent points. Maybe I would buy it.

    Please provide feedback on my Nohari and Johari Window by clicking here: Nohari/Johari

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  5. #65
    Dreaming the life onemoretime's Avatar
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    Quote Originally Posted by Gerbah View Post
    It seems that it's a matter of interpretation and how you look at things because Berninger in this video says most people deal with inflation and deflation as though it would be a single number but his point of view is different.

    This is the particular video where he talks about it:

    YouTube - The concept of Deflation and Inflation

    As far as I understand what he says, both deflationary and inflationary pressures exist at the same time in the economy and move in parallel.

    Deflation is more of a monetary phenomenon you see in the banking markets, the asset markets, while inflation is what the average person observes in their daily life and costs. These are happening at the same time.

    There is a tipping point where the deflationary pressure reaches such a degree, particularly when unemployment gets very high, that it shifts into inflation and then your money becomes worthless from one day to the next. So inflation is created through deflation. He gives a historical example of when this happened and silver money became worthless and people could only trade with gold.
    This is more based on a monetarist/late '70s conceptualization of inflation being the worst thing that can happen to a market. It's also based on the hoarder's mentality of anything acting to increase your hoard (deflation) being good, and anything acting to decrease your hoard (inflation) being bad. Whenever it's explained to them that deflation's actually much, much worse than even hyperinflation, usually convoluted rationalizations such as this (no, no, it's REALLY inflation after all!) are what results.

  6. #66
    Senior Member Gerbah's Avatar
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    Quote Originally Posted by onemoretime View Post
    This is more based on a monetarist/late '70s conceptualization of inflation being the worst thing that can happen to a market. It's also based on the hoarder's mentality of anything acting to increase your hoard (deflation) being good, and anything acting to decrease your hoard (inflation) being bad. Whenever it's explained to them that deflation's actually much, much worse than even hyperinflation, usually convoluted rationalizations such as this (no, no, it's REALLY inflation after all!) are what results.
    Ok, I see... sort of. I would like to have a better understanding of these things.

    He is German, and they are super savers, so maybe that is something to do with the hoarder's mentality you talk about.
    the shoheen ho of the wind of the west and the lulla lo of the soft sea billow - Alfred Graves

  7. #67
    pathwise dependent FDG's Avatar
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    Quote Originally Posted by onemoretime View Post
    This is more based on a monetarist/late '70s conceptualization of inflation being the worst thing that can happen to a market. It's also based on the hoarder's mentality of anything acting to increase your hoard (deflation) being good, and anything acting to decrease your hoard (inflation) being bad. Whenever it's explained to them that deflation's actually much, much worse than even hyperinflation, usually convoluted rationalizations such as this (no, no, it's REALLY inflation after all!) are what results.
    Pfff, what an ideological explanation.
    ENTj 7-3-8 sx/sp

  8. #68
    Senior Member Gerbah's Avatar
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    It's ideological? Could you expand on that? What do you have to gain by being pro-inflation?
    the shoheen ho of the wind of the west and the lulla lo of the soft sea billow - Alfred Graves

  9. #69
    Dreaming the life onemoretime's Avatar
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    Quote Originally Posted by FDG View Post
    Pfff, what an ideological explanation.
    So are those of the people who claim that savings beyond what is necessary for a rainy day or to eventually turn into a large capital expenditure is a good thing, rather than a huge economic sink.

  10. #70
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by YourLocalJesus View Post
    - Distance between haves and have nots

    There'll be a lot more "have nots", as the U.S will be a third world country.
    The US has far too much intellectual capital to become a third world country any time in the foreseeable future.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

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