Stacy Summary: A must read primer from Mish on the global inflation/deflation debate. Mish will be on tomorrow’s On the Edge and he also refers to and links to Steve Keen, who will also be interviewing in early October!
- Creative destruction (Mish Shedlock)
After studying the above, I think this link might interest you. In it Elizabeth Warren talks about how Paulson saved the world of dinosaurs of banking :
Had Paulson allowed Goldman and a few other big investment banks to fail, what do you think would have been allowed to flourish in its place?
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Not sure if this is old news or not. Got the link from VisionVictory on youtube. Apparently Bloomberg took the federal reserve to court to disclose who the Fed was lending to and Bloomberg won.
The manipulation of the gold price is so obvious and it also makes absolute sense why governments and central banks would do this.
Also, gold is the “canary in the coal mine” and this warning system has been switched off through manipulation. The consequences we know.
The Shadow Gold Price (now US$ 6000/Oz: see for more info: http://is.gd/2DIwP) solves for the price of an ounce of gold if the US dollar were still pegged to gold.
The hand of the government is so obvious.
Mish cannot see this: he vehemently denies any gold price manipulation and even does not want to discuss it anymore.
“Manipulation is all over the place!”, he says. Uuuh…Except for the gold price, that is.
He is sharp as a needle and an important commentator. But hmmm…he does not always convince me.
Just as I always suspected, another lie:
“A former Scottish police chief has given lawyers a signed statement claiming that key evidence in the Lockerbie bombing trial was fabricated.
The retired officer – of assistant chief constable rank or higher – has testified that the CIA planted the tiny fragment of circuit board crucial in convicting a Libyan for the 1989 mass murder of 270 people.
The police chief, whose identity has not yet been revealed, gave the statement to lawyers representing Abdelbaset Ali Mohmed Al Megrahi, currently serving a life sentence in Greenock Prison.
The evidence will form a crucial part of Megrahi’s attempt to have a retrial ordered by the Scottish Criminal Cases Review Commission (SCCRC). The claims pose a potentially devastating threat to the reputation of the entire Scottish legal system.
The officer, who was a member of the Association of Chief Police Officers Scotland, is supporting earlier claims by a former CIA agent that his bosses “wrote the script” to incriminate Libya.
Last night, George Esson, who was Chief Constable of Dumfries and Galloway when Megrahi was indicted for mass murder, confirmed he was aware of the development.
But Esson, who retired in 1994, questioned the officer’s motives. He said: “Any police officer who believed they had knowledge of any element of fabrication in any criminal case would have a duty to act on that. Failure to do so would call into question their integrity, and I can’t help but question their motive for raising the matter now.”
Other important questions remain unanswered, such as how the officer learned of the alleged conspiracy and whether he was directly involved in the inquiry. But sources close to Megrahi’s legal team believe they may have finally discovered the evidence that could demolish the case against him.
An insider told Scotland on Sunday that the retired officer approached them after Megrahi’s appeal – before a bench of five Scottish judges – was dismissed in 2002.
The insider said: “He said he believed he had crucial information. A meeting was set up and he gave a statement that supported the long-standing rumours that the key piece of evidence, a fragment of circuit board from a timing device that implicated Libya, had been planted by US agents.
“Asked why he had not come forward before, he admitted he’d been wary of breaking ranks, afraid of being vilified.
“He also said that at the time he became aware of the matter, no one really believed there would ever be a trial. When it did come about, he believed both accused would be acquitted. When Megrahi was convicted, he told himself he’d be cleared at appeal.”
The source added: “When that also failed, he explained he felt he had to come forward.
“He has confirmed that parts of the case were fabricated and that evidence was planted. At first he requested anonymity, but has backed down and will be identified if and when the case returns to the appeal court.”
The vital evidence that linked the bombing of Pan Am 103 to Megrahi was a tiny fragment of circuit board which investigators found in a wooded area many miles from Lockerbie months after the atrocity.
The fragment was later identified by the FBI’s Thomas Thurman as being part of a sophisticated timer device used to detonate explosives, and manufactured by the Swiss firm Mebo, which supplied it only to Libya and the East German Stasi. At one time, Megrahi, a Libyan intelligence agent, was such a regular visitor to Mebo that he had his own office in the firm’s headquarters.
The fragment of circuit board therefore enabled Libya – and Megrahi – to be placed at the heart of the investigation. However, Thurman was later unmasked as a fraud who had given false evidence in American murder trials, and it emerged that he had little in the way of scientific qualifications.
Then, in 2003, a retired CIA officer gave a statement to Megrahi’s lawyers in which he alleged evidence had been planted.
The decision of a former Scottish police chief to back this claim could add enormous weight to what has previously been dismissed as a wild conspiracy theory. It has long been rumoured the fragment was planted to implicate Libya for political reasons.
The first suspects in the case were the Syrian-led Popular Front for the Liberation of Palestine – General Command (PFLP-GC), a terror group backed by Iranian cash. But the first Gulf War altered diplomatic relations with Middle East nations, and Libya became the pariah state.
Following the trial, legal observers from around the world, including senior United Nations officials, expressed disquiet about the verdict and the conduct of the proceedings at Camp Zeist, Holland. Those doubts were first fuelled when internal documents emerged from the offices of the US Defence Intelligence Agency. Dated 1994, more than two years after the Libyans were identified to the world as the bombers, they still described the PFLP-GC as the Lockerbie bombers.
A source close to Megrahi’s defence said: “Britain and the US were telling the world it was Libya, but in their private communications they acknowledged that they knew it was the PFLP-GC.
“The case is starting to unravel largely because when they wrote the script, they never expected to have to act it out. Nobody expected agreement for a trial to be reached, but it was, and in preparing a manufactured case, mistakes were made.”
Dr Jim Swire, who has publicly expressed his belief in Megrahi’s innocence, said it was quite right that all relevant information now be put to the SCCRC.
Swire, whose daughter Flora was killed in the atrocity, said last night: “I am aware that there have been doubts about how some of the evidence in the case came to be presented in court.
“It is in all our interests that areas of doubt are thoroughly examined.”
A spokeswoman for the Crown Office said: “As this case is currently being examined by the SCCRC, it would be inappropriate to comment.”
http://www.globalresearch.ca/index.php?context=va&aid=14908
So, the fed will get audited. Don’t suppose it matters since the courts have forced them to do it anyway..
http://www.youtube.com/watch?v=FKQFUjbAJrQ
@Pharmageddon
The H1N1 Swine Flu Pandemic: Manipulating the Data to Justify a Worldwide Public Health Emergency
http://www.globalresearch.ca/index.php?context=va&aid=14901
@Black Douglas
Does anyone know where the 500 Bio. Euro Solar Project will be stationed ..wasn’t it Libya ?
Maybe that’s why they’re being so friendly all of a sudden !
It’s ALWAYS about money in the end !
Latest on Lockerbie Bombing.
Gadaffi says London offered prisoner transfer (of mass murdering terrorist) in return for oil. The Scottish governments decision to release Megrahi on compassionate grounds has made the Arab world see Scotland and the to some extent the UK as more civilised than they previouly believed.
http://www.theherald.co.uk/news/news/display.var.2527906.0.Gaddafi_Lockerbie_is_history_Now_its_time_to_talk_business.php
@AIG – what did I say ?
Investors trading 3 stocks that may be doomed
http://news.yahoo.com/s/ap/20090827/ap_on_bi_ge/us_doomed_stocks
.
.
… ” By DANIEL WAGNER, AP Business Writer – Thu Aug 27, 5:12 pm ET
WASHINGTON – Investors are still trading common shares of Fannie Mae, Freddie Mac and American International Group Inc. by the billions, even though analysts say their prices are almost certain to go to zero.
All three are majority-owned by the government and are losing huge sums of money. The Securities and Exchange Commission and other regulators lack authority to end trading of stocks in such “zombie” companies that technically are alive — until the government takes them off life support. “….
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…” Still, Freddie Mac Chairman John Koskinen said the price fluctuations were hard to understand.
“I have absolutely no idea what that represents,” he said.
Representatives for Fannie, the SEC, AIG, FINRA and the NYSE declined to comment. Spokeswomen for Treasury, which owns most of AIG, and the Federal Housing Finance Agency, which holds Fannie and Freddie in conservatorship, also wouldn’t comment. ” …
Tax on City profits is ‘crackers’ says Boris Johnson:
http://www.thisislondon.co.uk/standard/article-23737455-details/Tax+on+City+profits+is+%27crackers%27+says+Boris+Johnson/article.do
I can’t even begin to make sense of MIsh’s writing. I’d like to know how he thinks the Japan of yesteryear within it’s global context, can be compared with the constellation of states in crisis today within their current context. I see no accounting for the differences let alone adjustments.
Off Topic:
Does anybody have any opinions about the US Dollar in the next week, given the election in Japan Sunday? The opposition party is leading and they have said they are against purchase of dollar denominated US treasury bonds. They want them denominated in Yen if they buy them so they are safe from inflation. It seems like just implementing such a request could cause inflation via the fears it triggers….
My prediction, thus would be a rally in gold next week….
Disclaimer: I only analyze markets, I don’t rig them.
“It took us about a year to start piecing things together” regarding the 911 attacks..Yyyeah. I’m sure they pieced things together at MSNBC. It’s an interesting set up. If she discusses 911 like a sane person she’s a “conspiracy theorist”. If she discusses the fraud crisis as such, the label is at the ready in people’s minds.
@Matt Smyth
If Bernanke buys junk from the banks and sells off the assets at a loss in the future, did not some money vanish? Perhaps I’m missing something.
Now if Bernanke printed new money to buy those assets, the money supply has increased.
We know Bernanke is printing to buy some Treasuries. How is the Fed buying securities from the banks? I don’t pretend to understand all this.
Help! Fire! Theatre!
Paul Krugman is worried about MONEY!!!
http://krugman.blogs.nytimes.com/2009/08/27/a-note-on-the-bush-fiscal-legacy/
@Youri Carma I think what you a referring to are liquidations or sell offs based on credit being pulled….I understand your point.
I think where people get off track is when they quote price as a unit of value.
People like me view that unit as losing value against other goods.
As more dollars are printed and there is nothing to back up those dollars either through revenues or real assets they will lose value….even if there is no economic activity.
Poll: 2/3 in U.S. plan to get swine flu vaccine http://link.reuters.com/fac63d
@Dante
The FIAT ssystem is based on an inflation of 2.5% and an anual growth of round 4-5%.
Most of the times inflation has been much higher but the change the “inflation basket” all the time and counting rules.
Deflation allready happpened in many countries also in the US for witch the house price decline is a good example.
So, inflation is not good cause the money on your savings gets devalued, it’s a banksters trick by letting the money volume escalate and most grossly in the latest 10 years or so craeting all these bubbles which causes crises after crises.
Than you think finaly some justice is done ROBIN HOOD unfortunately caught by the Sheriff of Nottingham
Bernanke was victim of identity fraud: report http://tinyurl.com/lwqfol
4 hour debate/argument/agreement/absolute disagreement with 2 ‘thinking’ friends over pints of Beamish (see @david for explanation)
Very scary when someone pulls you on a point about max keiser and you can’t explain yourself.
Alot about Bernays again discussed.
Overall, amazing for 3 guys who 2 years ago were talking about getting laid and Liverpool FC.
Hence my love of the slogan, RISE UP!
Soooooo Funny
http://www.youtube.com/watch?v=LO2eh6f5Go0
As per Marc Faber:
“Deflation can be avoided through debt and money printing. This isn’t to say that I support such policies, or that I find deflation to be ‘bad’ and inflation to be ‘good.’ (Price stability is the most desirable condition.) But the point is that if a government is really determined to inflate its problems away, it can be done.
“Those people who believe in deflation have, however, some strong arguments. Their principal contention is that the economy is so weak (output gap) that the private sector’s contraction cannot be offset by government spending and money printing. They are certainly right about the economy being in the greatest slump since the Depression of the 1930s (although when I travel and look around, it certainly doesn’t yet feel that way to me).” Of course, the massive money printing and stimulus is one reason GDP has held up as well as it has.
Marc then uses a report by Richard Brenner of Morgan Stanley to segue to the looming funding crisis: “The last five years have brought our ever-distant fiscal crisis rapidly forward. Some of the deterioration is obviously cyclical: Courtesy of the financial crisis, recession, aggressive fiscal stimulus, and ongoing military outlays, the federal deficit has ballooned to US$1.8 trillion or 13% of GDP in fiscal 2009. But the bulk of the threat is structural. . . .
“By 2019, the full force of rising entitlement outlays and debt service will begin to hit the budget. No rosy growth scenario will provide sufficient resources to meet all the claims on future federal revenue. And while tax hikes or a broader tax base will likely be part of the solution, the real cure is to curb the growth of entitlement spending.”
Marc goes on to explain how even if we were to experience a period of across-the-board deflation, bonds might be a poor investment: “For me the principal problem of increasing fiscal deficits and government debt will be the interest payments on the government debt, which are already approaching US$500 billion annually. Should interest rates rise, interest payments on the bulging debt could easily double, which would make it more difficult to reduce the fiscal deficits. . . .
“Now, here is the problem I have with the view of the deflationists. The deflationist argues that because we have a weak economy, we shall have deflation; an argument with which I would tend to agree in the very short term. [I believe that we have passed the point of maximum downside pressure.] A true deflationist will also argue that because of deflation, economic conditions will worsen and, therefore, long-term U.S. government bond yields will decline. . . .
“But what happens to fiscal deficits and monetary policies under a scenario of a further decline in economic activity and a further collapse in asset prices? The answer is very simple. Deficits will increase further and more money will be printed. And the longer weakness in the economy prevails under the deflationary scenario, the more fiscal deficits will pile up and the more easy monetary policies will be pursued. . . .”
Bookies Putting Easy Money on Inflation
“So, whereas near-term deflation is [was?] a distinct possibility, in the longer term inflation is more likely because of several factors. When the economy recovers (and the recovery is likely to be fragile), the Fed will be very reluctant to increase short-term rates. Another reason for the Fed’s reluctance in this respect will be the size of the government debt, given that higher interest rates would increase the interest burden. Therefore, I can’t imagine any scenario under which the Fed wouldn’t [my emphasis] keep interest rates at an artificially low level, as it also did post-2001. That such a monetary policy, combined with the growing fiscal deficits discussed above, is more likely to lead to inflation rather than deflation should be clear. . . .”
And here, in Marc’s words, is what the funding crisis could look like: “. . . . For the reasons I explained above, inflation will pick up. With or without Fed tightening, interest rates will shoot up because of a loss of confidence by foreign U.S. dollar debt holders and the dollar tanks. Government debt payments and healthcare expenditure will soar. Instead of contracting, fiscal deficits will increase and force the Fed to continue monetizing the debt at a time when it should be tightening. . . .
“A vicious cycle of higher and higher inflation rates and a weaker and weaker dollar will follow amid economic weakness, because personal incomes will be squeezed by inflation. Eventually, hyperinflation will follow. So, in the debate about inflation and deflation, both camps could be right but at different times.”
CNN Fake Newscast (Best Quality)
318 Views NOT COUNTING!
Youtube is screwing US!
Seems they’ve reading my formal post ahhaa! I said 1:14 – 1:15 is OK
The FDIC decided to set a Tier 1 common equity ratio at 10 percent rather than the 15 percent previously proposed. Ross would have preferred a ratio of 7.5 percent.
Ross says FDIC bank rules still too tight http://link.reuters.com/tyk53d
@Dan2
when” goods ” like OTC derivatives dissapear, that money does not dissapear. There is just less goods for the money to chase.
CNN Fake Newscast (Best Quality) http://www.youtube.com/watch?v=jTWY14eyMFg
If the dollar weakens *in relation to other currencies* then imports and anything that people outside of the US can/want to buy goes up in price.
So the price of stuff like real estate, TV ads, and collector edition Obama dinner plates will be unchanged, pretty much everything else will become more expensive.
The exact definition of ‘inflation’ is debatable. Ask Mish if he thinks USD/Yuan, USD/Rupee, USD/AUD, USD/Rio. USD/Rubble is going up.
@youri
Yup, its from Finnish folklore.
Toyota to end California plant production http://tinyurl.com/mfjlyt
@Vainamoinen Is that Finnish?
Never mind thinking participating is good.
Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information http://tinyurl.com/njev4g
Oversight: Court Orders Federal Reserve to Disclose Emergency Loan Details http://tinyurl.com/ndczfq
Not sure if this is old news or not. Got the link from VisionVictory on youtube. Apparently Bloomberg took the federal reserve to court to disclose who the Fed was lending to and Bloomberg won. So by Aug 31 the Fed must disclose which banks required the emergency lending.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aAOhgVw78e3U#
“The immediate release of these documents will destroy the board’s claims of exemption and right of appellate review,” the motion said. “The institutions whose names and information would be disclosed will also suffer irreparable harm.”
The Fed’s “ability to effectively manage the current, and any future, financial crisis” would be impaired, according to the motion. It said “significant harms” could befall the U.S. economy as well.
Totaly agree however we have the big problem of the reversed “Survival of the Fittest” or the “Peter Principle” described by John Kay in The Financial Times August,25. The capable bankers get killed of and didn’t recieve any bail out while the incapable get extra bonusses from a huge bailout on taxpayers account. A very destructive system which will recon itself in the near future. We live in Alice in Wonderland where the Koelee drinkers get rewarded and the good banks get the guillotine!?
gee, I wish I were a boot licking wallstreet reporter working for the big boys and could pander to them as well and get many millions stuffed into my xmas sock this xmas for trying to protect their stealing taxpayers money. After setting up the downfall and stealing it all in the first place.
SHOULD BE A BIG DISCUSSION POINT TO MUCH BANKING OVERHEAD LIKE I SAID
The financial sector has “swollen beyond its socially useful size” http://link.reuters.com/veh53d
INSTANT VIEW: U.S. regulators back revised investment rules http://tinyurl.com/n4zg68
I think 1:14 – 1:15 is OK
INSTANT VIEW: U.S. regulators back revised investment rules http://tinyurl.com/n4zg68
Defense firms hope for protector like Kennedy http://link.reuters.com/zuw53d
FDIC soften bank investment restrictions http://tinyurl.com/nbob24
@Dedo
To clarify, the ‘flaw in character’ reference was aimed at me, not the author.
@Dedo
Your correct. I based my comment on the image alone without knowing the author. Acutally I rather liked the analogy, until I saw that error. Then I doubted the ‘facts’ on all of it. However, the point made is correct: to many deaths at the hands of government.
Our money is debt based. It derives it’s existence from borrowing. If all debt were paid, no money would be in circulation. In order for this scheme to perpetuate itself, the money supply must always increase to service the principal and interest of older debt. This means we have an exponential growth of money supply. As we all know, no exponential growth can go on forever. It MUST crash at some point. Compounding this problem is that a few oligarchs have managed to extract an enormous portion of the money supply from the system and passed on the interest cost to the rest of us. We don’t have the money to pay either the principal or the interest. Therefore, real assets worth value will be forfeited for fake fiat money worth nothing. There is no escaping this. It is mathematically impossible to escape this fact. Can someone demonstrate to me how this is in error?
Perhaps the Fed has decided to cause a vanishing act of some principal and interest owed. They are buying up worthless securities, never intending to recapture the monetary value on the books. The Fed doesn’t have to. It is more important to keep control, regroup and get ready for the next round of asset capture.
Basically, our system of money is one big musical chairs game.
I believe Mish is right. Inflation is not the money supply. Inflation is the to much money chasing too few goods and that doesn’t seem to be on the horizon for quite some time.
Great news you will have Keen on the show. Aside from you guys he is spectacularly singular in telling the truth in the great global delusion !
@Dan,…..If the guy made a mistake,…is that a flaw in his character ?
I don’t personally know him, but I’m sure reading some of his site,…it wasn’t intentional.
We can only speculate.
I think I get your point though, in an age of deceit and mis-direction, it sometimes becomes tedious searching the truth.
As per Mish’s debt/deflation argument….what he does not get at is what happens if you can not issue debt at low rates or in your own currency? Does the price of money fit into his thinking? If the price of money rises..is it considered a cost? If a finance based economy is a function of the cost of money , are prices rising? Why? Why not? The US has a severe funding crisis on the horizon still..will it get cheaper to fund? If economic activity goes flatline and no one borrows..and we can’t raise the funds to satisfy our obligations will the dollar rise or fall? Will everything get cheaper because of this?
@Dedo
No, I got the point, (that was the poignant part). Death at the hands of government who manipulate their countrymen into a spurious patriotic fervor to kill fellow human beings is an atrocity.
I hate statistics, especially inaccurate statistics. Especially statistics that try to make a poignant point and don’t add up. It’s a character flaw.
@Dan,..I like your keen sense of accuracy,…but maybe you’re missing the point,.: )
http://www.hawaii.edu/powerkills/
@Dan 11,……have a gander,…http://www.hawaii.edu/powerkills/
Maybe some honesty in the world would have happened….
and that would have been a disaster!
@Max/Liverpool:
Good find!
“JP Morgan Chase is lending a hand to the nation’s worst credit risk.”
That sentence ought to sell a lot of treasuries.
J P Morgan bales out CA!
http://www.cnbc.com/id/32584157
Mike
“Bair said that she did not anticipate having to immediately tap an emergency credit line run by the Treasury Department, although she did not rule it out. “I never say never,” she said.”
http://www.nytimes.com/2009/08/28/business/28fdic.html?_r=1&hp
Definately inflationary!
European business opposes derivatives reform: European companies are hitting out against proposed reforms of the.. http://bit.ly/MsCSy
Albert got caught because his bills didn’t have cocaine on them.
RECAP: Court Orders Federal Reserve to Disclose Emergency Loan Details http://tinyurl.com/ndczfq
@Dedo “civilization up to now:”
Poignant, yet the statistics don’t add up. According to the numbers – 1.1 gallons of blood and about 4 gallons of water per person.
The water should take four times longer to flow, not fourteen times longer. Makes you wonder if these facts are just made up. I’d like to know if the 174,000,000 deaths are accurate as well.
Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information http://tinyurl.com/njev4g
If they can catch a guy like Albert Talton, they can certainly catch “Helicopter” Ben Bernanke.
http://www.dailyfinance.com/2009/08/26/albert-taltons-wild-ride-lessons-from-a-7-million-dollar-coun/?icid=main|main|dl3|link4|http%3A%2F%2Fwww.dailyfinance.com%2F2009%2F08%2F26%2Falbert-taltons-wild-ride-lessons-from-a-7-million-dollar-coun%2F
@Stacy…………..In answer to your question, I would hope that people like Max and yourself and other credible alternative thinkers would come together and come up with a plan – Is that wishful thinking?
@Max & Stacy
Great Stuff Folks!
Like to see Elizabeth Warren on your show and Bob Chapman,
@Mother………..right on!!!
Mish looks at each county like it is a closed system.
The irony here is how ass backwards that statement is. My model takes into consideration global wage arbitrage, outsourcing, and trade imbalances.
Inflationistas, most of whom cannot finds their ass with both hands and a roadmap, treat the US as if it was a closed system. In a closed system the Fed’s inflationary tactics could “work” (using the term “work” loosely) as money and jobs would stay in the US inflating wages and prices.
Global factors add to the woes of Bernanke and the Fed and I take that into consideration, while ironically you don’t.
Moreover clowns talking about prices prove they do not even understand what inflation is.
Mish
Fab Answer Inc.
@Dedo:
@Sharon,……It’s not about winning, silly.Just exchanging different thought processes. : )
So that means I won! Righteo. Thanks for conceding!
@OzziePete:
What do you think would have flourished in its place (Stacy’s question)?
btw. nice link
@Sharon:
I think Goldman was MotherEarth’s answer to Stacy’s question!
fab answer that one
This is the garbage that we get bombarded with over here:
http://tiny.cc/RGbCE
I am loving all the posts, I normally read and don’t have a great deal to say normally…
Pete
Dedo…..you know I know that!
@frances……..OK, you were both right; I’ll let each of you have a point. But I did appreciate the point you made – those were the days eh?
@Mother……Goldman?
civilization up to now:
http://www.hawaii.edu/powerkills/VIS.NIAGARA.OF.TEARS.HTM
@MotherEarth:
Good answer!
I see ol’ Mish is all at it again with his silly deflationist talk; he should really get out more. In Mish’s world, I would suggest that the best thing for people to do is quit their jobs now and get in line for welfare & food stamps. What with the rising strength of the dollar and plumeting value of assets, we’ll soon all be able to just loaf around all day with the x-box and forget about working all together. And, oh baby, Senior Citizens will have it made!
I’ll only remind him that in Weimar folks went from spending about 30% of their budgets on food to about 97%. Been to the grocery store lately? Yesterday I saw a 16 oz. can of Del Monte green beens ‘on sale’ for $1.49 (down from $1.79). Last year they would go on sale for a dollar, and 2 to 3 years ago you would still get two for a dollar sales.
I saw what looked like a pretty good deal on Cherrios, also. Until I noticed that it was an 8.9 oz. box. 8.9 ozs? And how about those slightly smaller yet more expensive cans of soup that say ‘About 2 Servings’ rather than the old, ’2 Servings.’
The real inflation is already settling in. While it’s true that people tend to buy fewer houses and washing machines when they’re struggling to keep food on the table; it’s also true that they’ll eventually demand and receive more goverment handouts and higher wages (at least higher minimum wages) to cover the grocery bills.
@Sharon,……It’s not about winning, silly.Just exchanging different thought processes. : )
Goldman
@Sharon:
Dedo has a point.
Dedo 1
for recognizing that civilization is built upon the bones of slaves
Frances 0
@Dedo…
frances – 1
Dedo – 0
Dedo:
You know, Dedo. Life’s little niceties: independence, reliable transportation, vacations, time to enjoy or produce art…
something other than scratching out a living like a gaggle of hens
something called humanism
Where every day from the time one saw one’s own hand until the time one cannot see the fingertips was not spent procuring the essentials to spend another day in the self-same way.
@Frances,….Yeah,..righto!,……don’t think so somehow.
You must be living in a parallel universe to think we’ve ever lived in a civil society.
Explain,…I’m intrigued
@Stacy:
Is this the eleventh hour?
@Stacy:
That was the answer to your question: civilization. The world as we knew it.
Looks like we will be taken on a different route.
Mish is a deflationista to the end! Why doesn’t he talk about trade imbalances?
Bernanke and the Fed do not understand these concepts, nor does anyone else chanting that pending hyperinflation or massive inflation is coming right around the corner, nor do those who think new stock market is off to new highs. In other words, almost everyone is oblivious to the true state of affairs.
Mish looks at each county like it is a closed system.
Team Obama doesn’t want a strong dollar because Obama said that exports are the only salvation for the US economy. This is echoed from Mr. Blanchard:
http://www.dailyfinance.com/2009/08/19/imf-says-world-economy-is-recovering/
Why does Mish ignore the policy being forwarded by the IMF: a weak dollar leading to US export market viability?
Max/Stacy
Trouble in ETF land?
http://www.finra.org/Investors/ProtectYourself/InvestorAlerts/MutualFunds/P119778
Mike
Civilization.
Bloody Hell
1st 3 or times today
Mike
I like her
Loved her book!
Mike