Peter Schiff: "The President is either incompetent, or he is lying about the US debt ceiling..."

[Morph]

Oh you mean from 1913 till 2008... not the hyperinflation that Peter Schiff predicted... way to move the goal posts jackass.

I didn't say from 1913, but the chart is there so you can judge for yourself.

From 2009 to 2013, the CPI rose from 214 to ~233, for a total increase of 8%. Can you imagine how much its grown since the Fed was created in 1913?

 

[Broke Wave]

I didn't say from 1913, but the chart is there so you can judge for yourself.

From 2009 to 2013, the CPI rose from 214 to ~233, for a total increase of 8%. Can you imagine how much its grown since the Fed was created in 1913?

That is an 8 % increase in CPI not inflation jackass, those things are not 1 and the same...

http://www.usinflationcalculator.com/inflation/historical-inflation-rates/

There was no 8% increase from 2009-2013, and your assertion about the feds relationship to Inflation is weak at best... this recent round of QE was the biggest money printing event in human history yet there isn't massive inflation... Austrian bullshyt loses again.

 

[Morph]

those things are not 1 and the same...

I never said they were the same thing. You CAN use CPI to calculate inflation, however, and I did.

http://www.usinflationcalculator.com/inflation/historical-inflation-rates/

There was no 8% increase from 2009-2013

But that's were you're wrong, see.

Inflation averages:
2009: -0.4
2010: 1.6
2011: 3.2
2012: 2.1
2013: ??? (it will probably be around 1.5 if the averages hold up)

So if you add them up, -0.4 + 1.6 + 3.2 + 2.1 + 1.5 = 8%

So yes, inflation has increased for a grand total of 8% for the years between 2009 to 2013.

 

[No1]

How is this guy an investment manager that doesn't understand the concept of debt financing and it's relationship with the bond markets? You can be an extreme deficit hawk but the only person on earth who is managing money and talking about a US DEFAULT and gold as a reserve is Peter Schiff. Not even right winger economists are saying this, it's just the league of Austrian quasi-racist ideology driven dudes like Ron Paul etc that say whatever they want without any academic consideration.

Schiff "Predicted" the financial crisis but so did Krugman, and Krugman told you where it was coming rather than just Schiff's general doomsday predictions.

 

[Broke Wave]

I never said they were the same thing. You CAN use CPI to calculate inflation, however, and I did.


But that's were you're wrong, see.

Inflation averages:
2009: -0.4
2010: 1.6
2011: 3.2
2012: 2.1
2013: ??? (it will probably be around 1.5 if the averages hold up)

So if you add them up, -0.4 + 1.6 + 3.2 + 2.1 + 1.5 = 8%

So yes, inflation has increased for a grand total of 8% for the years between 2009 to 2013.

lmao are you seriously going to ADD up different %of Inflation in order to say that inflation was at 8%? are u kidding me do u even understand the relationship between Inflation and growth? these inflation hawks got your brain in a whirl I cant expect you to understand rudimentary economics

 

[Handsback]

I never said they were the same thing. You CAN use CPI to calculate inflation, however, and I did.


But that's were you're wrong, see.

Inflation averages:
2009: -0.4
2010: 1.6
2011: 3.2
2012: 2.1
2013: ??? (it will probably be around 1.5 if the averages hold up)

So if you add them up, -0.4 + 1.6 + 3.2 + 2.1 + 1.5 = 8%

So yes, inflation has increased for a grand total of 8% for the years between 2009 to 2013.

There's always inflation. The Federal Reserve aims to keep it at 2-3 percent a year. Those numbers are absolutely nothing to worry about. When they hit 10+ then you have something to talk about.

 

[Morph]

lmao are you seriously going to ADD up different %of Inflation in order to say that inflation was at 8%? are u kidding me

At first I used the CPI to calculate the 8%: [(233-214) / 214] * 100. So then I used the averages that YOU provided to show you that there are many ways of calculating inflation, and yet you still have problems understanding basic concepts of math?

Breh, math is not a complicated concept. Calculating 'average' is a statistical tool. It's not a difficult concept at all.

 

[Dusty Bake Activate]

I never said they were the same thing. You CAN use CPI to calculate inflation, however, and I did.


But that's were you're wrong, see.

Inflation averages:
2009: -0.4
2010: 1.6
2011: 3.2
2012: 2.1
2013: ??? (it will probably be around 1.5 if the averages hold up)

So if you add them up, -0.4 + 1.6 + 3.2 + 2.1 + 1.5 = 8%

So yes, inflation has increased for a grand total of 8% for the years between 2009 to 2013.

Is this Foxy Brown macroeconomics? "2.5 percent inflation raw, chop it in half, double it times 3, that's back to 8% that means a whole lot of gold."

 

[Broke Wave]

At first I used the CPI to calculate the 8%: [(233-214) / 214] * 100. So then I used the averages that YOU provided to show you that there are many ways of calculating inflation, and yet you still have problems understanding basic concepts of math?

Breh, math is not a complicated concept. Calculating 'average' is a statistical tool. It's not a difficult concept at all.

I said what inflation, then you showed year after year of very low inflation, even using the CPI to add up different % of inflation to 8% which NOBODY on earth does, the context is what matters. Schiff and other idiot Austrians have been predicting rampant inflation for years and you tried to confirm it, and when I tested you, you came with this bullshyt. Nice try.

 

[Morph]

There's always inflation. The Federal Reserve aims to keep it at 2-3 percent a year. Those numbers are absolutely nothing to worry about. When they hit 10+ then you have something to talk about.

I feel that our inflation isn't the product of a naturally occurring process, but the product of the Fed pumping so much money into the economy, creating artificial growth.

 

[Morph]

Is this Foxy Brown macroeconomics? "2.5 percent inflation raw, chop it in half, double it times 3, that's back to 8% that means a whole lot of gold."

Whoa, it seems folks don't know that you can use CPI to calculate inflation..




The formula for calculating the Inflation Rate looks like this:
((B - A)/A)*100

OR

you can just add the averages for every year.

I did it both ways and got 8%.

Why is math such a hard concept for the coli?

I'm not trying to patronize yall.. but simple math is not at all hard. Seriously. I'm not even a math major and I did this math without using a calculator. C'mon coli, step your math game up!!!

 

[Morph]

I said what inflation, then you showed year after year of very low inflation, even using the CPI to add up different % of inflation to 8% which NOBODY on earth does, the context is what matters. Schiff and other idiot Austrians have been predicting rampant inflation for years and you tried to confirm it, and when I tested you, you came with this bullshyt. Nice try.

Why are you backtracking?

You said matter-of-factly "what inflation?" insinuating that inflation was at 0% or near 0%, and I showed you that since the economy crashed in late 2008, from 2009 to 2013 inflation has risen 8%, despite multiple stimulii and QE.

I never agreed with Schiff's prediction of hyperinflation. In this thread I said that Schiff "is a cuckoo".

 

[Broke Wave]

Why are you backtracking?

You said matter-of-factly "what inflation?" insinuating that inflation was at 0% or near 0%, and I showed you that since the economy crashed in late 2008, from 2009 to 2013 inflation has risen 8%, despite multiple stimulii and QE.

I never agreed with Schiff's prediction of hyperinflation. In this thread I said that Schiff "is a cuckoo".

That is not what I was insinuating you fukking a$$hole, when in the history of industrial nations has inflation been near 0 or around 0 for continuous years? You are the one who is back tracking, your first post was defending Schiff, now it's "Schiff is a cuckoo"...

When I said "What Inflation" I was clearly talking about this jackass Schiff and the rest of the libertarian drones who are now actually outright questioning the BLS employment numbers and the inflation numbers and coming up with their own numbers, saying the government is lying etc, that is where your camp is at right now, creating an alternate universe for their echo chamber.

Thanks for playing tho.

I feel that our inflation isn't the product of a naturally occurring process, but the product of the Fed pumping so much money into the economy, creating artificial growth.

This sums up your view of economics... based on feelings and emotions... not facts and statistics

 

[No1]

That is not what I was insinuating you fukking @sshole, when in the history of industrial nations has inflation been near 0 or around 0 for continuous years? You are the one who is back tracking, your first post was defending Schiff, now it's "Schiff is a cuckoo"...

When I said "What Inflation" I was clearly talking about this jackass Schiff and the rest of the libertarian drones who are now actually outright questioning the BLS employment numbers and the inflation numbers and coming up with their own numbers, saying the government is lying etc, that is where your camp is at right now, creating an alternate universe for their echo chamber.

Thanks for playing tho.



This sums up your view of economics... based on feelings and emotions... not facts and statistics

Keep it respectful, no need to all him an a$$hole. Just misguided

 

[Morph]

That is not what I was insinuating you fukking @sshole

Why all the personal attacks? I have not called you names in this thread. Can you return the courtesy?

You matter-of-factly said "what inflation" suggesting that there hasn't been inflation, but there has so stop backtracking.

when in the history of industrial nations has inflation been near 0 or around 0 for continuous years? You are the one who is back tracking, your first post was defending Schiff, now it's "Schiff is a cuckoo"...

In my first post in this thread I said Schiff is a cuckoo, it's on page 2. So how can I be backtracking if my original position was that he's a bit of a crazy fukk to begin with?

When I said "What Inflation" I was clearly talking about this jackass Schiff and the rest of the libertarian drones who are now actually outright questioning the BLS employment numbers and the inflation numbers

Never in this thread did I agree with Schiff's view on hyperinflation, but to deny that inflation hasn't risen by 8% since the economy crash, well then...

you're just playing yourself