Hyper-Inflation

[Karen Kraft]

Is your trust fund inflation-proof? Is it prepared to be indexed daily?

If you have hyper inflation you'd better have that or you're fucked.

HARD assets, I said.

 

[KingOrfeo]

HARD assets, I said.

What, gold?

 

[RobDownSouth]

LOL, America's never come close to hyperinflation (we had, *gasp*, 18% inflation in the late 70s and voters had a collective coronary), but now since we have a Democratic president (and a Negro one, at that), hyperinflation is now a certainty, an article of faith amongst the extreme right wing.

 

[Karen Kraft]

LOL, America's never come close to hyperinflation (we had, *gasp*, 18% inflation in the late 70s and voters had a collective coronary), but now since we have a Democratic president (and a Negro one, at that), hyperinflation is now a certainty, an article of faith amongst the extreme right wing.

It's not the amount of brown in his skin, but the amount of green in his sin that causes inflation. You needn't play the race card on his behalf, you worthless fat boy-fucker.

Just thought I'd clear the air a bit.

 

[Frisco_Slug_Esq]

Throb can't get past gay and black which leads me to assume he's both a homophobe and bigot.




On one hand the Obamaphiles say recovery could take ten years, but if inflation isn't right now, it's not possible.

 

[RobDownSouth]

It's not the amount of brown in his skin, but the amount of green in his sin that causes inflation. You needn't play the race card on his behalf, you worthless fat boy-fucker.

Just thought I'd clear the air a bit.

Look up the difference between inflation and hyperinflation and get back to me, m'kay?

Oh and Kraft Rulez #4 applies..

 

[RobDownSouth]

Throb can't get past gay and black which leads me to assume he's both a homophobe and bigot.

Who brought up "gay" in this thread? Hmmm, Mr. Projection?

 

[Frisco_Slug_Esq]

Are you sure you read correctly before you went insane this time?

 

[RobDownSouth]

Are you sure you read correctly before you went insane this time?

Answerin' questions with questions, eunuch? How gauche.

 

[Frisco_Slug_Esq]

Still crazy after all these years...

 

[Karen Kraft]

It's cute when KK gets in a tizzy. He's so touchy sometimes.

Oh, look!

KRC wants to learn some more about OBAMA !!!!

Thank her for asking me to go over the details again.

When you say that I am not a woman, you are also saying that you want to discuss the idea that Obama is not an American.

Good job !!!!

 

[RobDownSouth]

The results are in!

Hyper-inflation is likely to start in early January 2010.

I flatly challenge this. I say hell fucking no.
<snip>You call hyperinflation by Jan 2010. I call bullshit. I hope people are marking this to see whose prediction is more accurate.

Hell, if hyperinflation does happen it won't even matter who's right...

Well, okay then. The predictions are set. We shall see.

LT 1, Nostradumbass 0

 

[Le Jacquelope]

LT 1, Nostradumbass 0

I would politely request an extension for that prediction; a sort of handicap in Karen Kraft's favor, of course, but it is an honest request that takes into account the facts of life concerning inflation. I'd prefer an extension to be pretty far out - until about 2014, to match my original prediction that we would not see this for at least the next 5 years.

We haven't really seen the world set the stage for whether inflation will go hyper. We have yet to see how things will move once unemployment is back down. We have yet to see the effects of a > $1T growth in the national debt per year, will have on the value of the US Dollar, which will first affect the price of oil and thus the transportation of goods. China has yet to take truly drastic action regarding their holdings of our currency and debt, and they just might still do that. Still, hyper-inflation nowadays requires the second catalyst of supply shortages, which is not impossible: skyrocketing oil prices can make it hard to move goods and more expensive to produce things like plastics and agricultural insecticides, but really, America has the ability to adapt. The Middle East stops on a dime and drops dead on the spot if we are forced to adapt to $6/gallon gasoline with, for instance, new types of fuels: we'll do it. We'll bite the bullet and do it. We have the know how to do it right now. Still, Karen Kraft's prediction could come true in the future, if America refuses to adapt.

What I fear is we may face a period of stagflation caused by higher oil prices. I might even request a handicap on the account that Karen Kraft may have meant stagflation rather than outright out of control Zimbabwe/Weimar Republic-style inflation.

I would consider going against a hyperinflation deadline of January 2014 a better challenge, as even a 5th grader would have had the intelligence to call total bullshit on Karen Kraft's original prediction.


And regardless of the unreliability of Karen Kraft's "knowledge", or perhaps just his timing, I would still warn you to keep an eye on things like home made remedies (for simple stuff), local farmer's markets and the like. Just in case. Think locally.

 

[trysail]

LOL, America's never come close to hyperinflation (we had, *gasp*, 18% inflation in the late 70s and voters had a collective coronary), but now since we have a Democratic president (and a Negro one, at that), hyperinflation is now a certainty, an article of faith amongst the extreme right wing.

"Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds, ought and six, result misery."

-Charles Dickens
David Copperfield

_____________

Warren Buffett: We need to curtail our out-of-control spending, or we'll destroy the value of the dollar and many Americans' life savings.

Some not-so-fun facts from Buffett's editorial today ( 19 August, 2009 ) in the New York Times:

•Congress is now spending 185% of what it takes in
•Our deficit is a post WWII record of 13% of GDP
•Our debt is growing by 1% a month
•We are borrowing $1.8 trillion a year
$1.8 trillion is a lot of money. Even if the Chinese lend us $400 billion a year and Americans save a remarkable $500 billion and lend it to the government, we'll still need another $900 billion.

So, where's it going to come from? Most likely the printing press. And, ultimately, Buffett says, that will destroy the value of the dollar.

© 2008 Warren E. Buffett
An excerpt from the 2007 Annual Report of Berkshire Hathaway Corporation

"Whatever pension-cost surprises are in store for shareholders down the road, these jolts will be surpassed many times over by those experienced by taxpayers. Public pension promises are huge and, in many cases, funding is woefully inadequate. Because the fuse on this time bomb is long, politicians flinch from inflicting tax pain, given that problems will only become apparent long after these officials have departed. Promises involving very early retirement – sometimes to those in their low 40s – and generous cost-of-living adjustments are easy for these officials to make. In a world where people are living longer and inflation is certain, those promises will be anything but easy to keep."
________________________________

The (awful) facts:
U.S. states have accumulated an estimated $2.73 trillion present value of pension and benefit obligations to retirees, according to a December report from the Pew Center on the States. State pension and benefit funds are short almost 27 percent, or $731 billion, of that amount. The Government Accountability Office said last week that 58 percent of 65 large state and local pension plans were adequately funded in 2006, down from 90 percent in 2000.

Such studies may overstate the health of pensions because they are allowed to include expected returns in determining their funding gap, said Mark Ruloff, director of asset allocation at Arlington, Virginia-based consultant Watson Wyatt Worldwide Inc.

 

[KingOrfeo]

"Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds, ought and six, result misery."

-Charles Dickens
David Copperfield

For an individual, perhaps. But not for a government, and not for a family, and not for a business.

 

[trysail]

For an individual, perhaps. But not for a government, and not for a family, and not for a business.

That may be the singlemost asinine post that ever saw the light of day. Take a look at Zimbabwe, Argentina or Weimar Germany. Salon.com's opinion on anything to do with economics or business ranks with the Pope's advice on methods of birth control.

 

[RobDownSouth]

I would politely request an extension for that prediction; a sort of handicap in Karen "Ketamine" Kraft's favor, of course, but it is an honest request that takes into account the facts of life concerning inflation. I'd prefer an extension to be pretty far out - until about 2014, to match my original prediction that we would not see this for at least the next 5 years.

We haven't really seen the world set the stage for whether inflation will go hyper. We have yet to see how things will move once unemployment is back down. We have yet to see the effects of a > $1T growth in the national debt per year, will have on the value of the US Dollar, which will first affect the price of oil and thus the transportation of goods. China has yet to take truly drastic action regarding their holdings of our currency and debt, and they just might still do that. Still, hyper-inflation nowadays requires the second catalyst of supply shortages, which is not impossible: skyrocketing oil prices can make it hard to move goods and more expensive to produce things like plastics and agricultural insecticides, but really, America has the ability to adapt. The Middle East stops on a dime and drops dead on the spot if we are forced to adapt to $6/gallon gasoline with, for instance, new types of fuels: we'll do it. We'll bite the bullet and do it. We have the know how to do it right now. Still, Karen "Ketamine" Kraft's prediction could come true in the future, if America refuses to adapt.

What I fear is we may face a period of stagflation caused by higher oil prices. I might even request a handicap on the account that Karen "Ketamine" Kraft may have meant stagflation rather than outright out of control Zimbabwe/Weimar Republic-style inflation.

I would consider going against a hyperinflation deadline of January 2014 a better challenge, as even a 5th grader would have had the intelligence to call total bullshit on Karen "Ketamine" Kraft's original prediction.


And regardless of the unreliability of Karen "Ketamine" Kraft's "knowledge", or perhaps just his timing, I would still warn you to keep an eye on things like home made remedies (for simple stuff), local farmer's markets and the like. Just in case. Think locally.

I understand where you're coming from, and I certainly wouldn't mind revisiting this thread in, say, 2014, assuming we both haven't been banned!

My point in bumping this thread was to point out how continually wrong the more bellicose members of the Reichwing here are...they make wide-eyed predictions promising all sorts of inane conjecture, and are never held accountable for their stupidity.

My all-time favorites:

• Karen Kraft: "Hyper-inflation will be here by January 2010" and of course "Dow 6000"
• Vetteman: "The recession will end in January 2008 and McCain will coast to victory due to an improved economy"
• Frisco_Slug_Esq (Injun birthname: Dances With Falsehoods): "The Democrats will never nominate a black man to be president".

 

[KingOrfeo]

That may be the singlemost asinine post that ever saw the light of day. Take a look at Zimbabwe, Argentina or Weimar Germany. Salon.com's opinion on anything to do with economics or business ranks with the Pope's advice on methods of birth control.

Show me a successful government (or family, or business) that has never been in debt. It's really quite routine, actually.

 

[trysail]

Show me a successful government (or family, or business) that has never been in debt. It's really quite routine, actually.

That's not what I said and you know it. Sophistry will get you nowhere.

Nobody is saying you can't borrow. There's a difference between prudence and recklessness. As we've seen ( and continue to see ), responsible borrowing requires good judgment and those who exceeded their borrowing capacity rue the day they made rosy assumptions.




___________________________

Let's take a look at the U.S. national debt outstanding as reported by http://www.usdebtclock.org this morning. At the moment, it stands at a stunning $12,355,600,400,000 ( for U.S. based innumerates, that's TWELVE TRILLION THREE HUNDRED FIFTY-FIVE BILLION SIX HUNDRED MILLION FOUR HUNDRED THOUSAND DOLLARS ) or $40,036 per person or $113,079 per taxpayer.



U.S. Debt Clock:
http://www.usdebtclock.org/






This, of course, is only the outstanding Treasury debt and doesn't include the unfunded Medicare ( $66 trillion ) or Social Security ( $11 trillion ) liabilities.

I don't know whether the train wreck will be sudden or slow, but I know it's bound to occur. What is insidious about living through what will be history is that events may not be apparent at the time they happen. The train wreck may, in fact, be occuring right now and we're not recognizing what is going on. It may not become apparent until interest rates ascend.

The willingness of foreigners to hold their savings in U.S. dollar denominated assets is not a given. Their faith in the ability of the U.S. government to pay its obligations in a timely manner as they become due is not unlimited.

 

[KingOrfeo]

There's a difference between prudence and recklessness.

Yes, and the line between them is well, well on the far side of, "Annual income twenty pounds, annual expenditure twenty pounds, ought and six."

 

[trysail]

Yes, and the line between them is well, well on the far side of, "Annual income twenty pounds, annual expenditure twenty pounds, ought and six."

Hardly. When debt service exceeds income, you've got a big, big problem.

 

[Le Jacquelope]

I understand where you're coming from, and I certainly wouldn't mind revisiting this thread in, say, 2014, assuming we both haven't been banned!

Aye matey, but not until all the seven seas are polluted with sunken ships whose cap'ns think to call themselves our enemies, arrrr!

My point in bumping this thread was to point out how continually wrong the more bellicose members of the Reichwing here are...they make wide-eyed predictions promising all sorts of inane conjecture, and are never held accountable for their stupidity.

My all-time favorites:

• Karen Kraft: "Hyper-inflation will be here by January 2010" and of course "Dow 6000"
• Vetteman: "The recession will end in January 2008 and McCain will coast to victory due to an improved economy"
• Frisco_Slug_Esq (Injun birthname: Dances With Falsehoods): "The Democrats will never nominate a black man to be president".

Well of course, these guys are just about always wrong. There was also the claim by Vetteman that the subprime collapse was no cause for panic. You'll never get many people here to acknowledge that these guys were dead wrong. Not ever. In fact, the fact that I've bested yet another GBer in an argument pretty much means a lot of people will just get even nastier. Sore losers and all that.

What is of greater concern is not the inaccuracies of Vetteman, Sky-lar and AJ: having established that they're a bunch of idiots, it's time to get down to business, namely buckling up for the troubles to come. It won't be hyperinflation but it will be bad enough to make America miserable.

 

[JohnnySavage]

The dollar rose to a fresh seven-month high against the euro Thursday amid growing concerns over the fiscal health of debt-laden euro zone countries.

 

[JMohegan]

The dollar rose to a fresh seven-month high against the euro Thursday amid growing concerns over the fiscal health of debt-laden euro zone countries.

The dollar, on the other hand, fell to a roughly seven-week low versus the yen, weighed down by weaker-than-expected U.S. jobless clams data.

 

[Karen Kraft]

I understand where you're coming from, and I certainly wouldn't mind revisiting this thread in, say, 2014, assuming we both haven't been banned!

My point in bumping this thread was to point out how continually wrong the more bellicose members of the Reichwing here are...they make wide-eyed predictions promising all sorts of inane conjecture, and are never held accountable for their stupidity.

My all-time favorites:

• Karen Kraft: "Hyper-inflation will be here by January 2010" and of course "Dow 6000"
• Vetteman: "The recession will end in January 2008 and McCain will coast to victory due to an improved economy"
• Frisco_Slug_Esq (Injun birthname: Dances With Falsehoods): "The Democrats will never nominate a black man to be president".

So long as the spending spree continues, its depressive effect can delay the inevitable inflation. I predicted The Bam will become politically toxic by January 2010. The full-blown stagflation of double digit inflation and double digit unemployment won't arrive until China decides not to continue to give Obama his daily fix. Make note of this thread. Once stagflation has arrived, the only thing you will have is the thought that our projected date of arrival was off by a bit. That won't resolve the underlying fact that it is coming, sure as God made little in-the-red apples. Hyper-Inflation is on it's way -- big time. But you see, you don't have inflation when shop after shop is closing down and sales are approaching zero. Hardly a reason for joy, even for those who suffer from economics theory retardation.