When a refutation is anything but | 49 comments (49 topical, 0 editorial, 0 hidden)

Re: When is a refutation not a refutation? (none / 1)

Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.

The Emergency Economic Stabilization Act of 2008:

... analysis by Bloomberg found the Federal Reserve had, by March 2009, committed $7.77 trillion to rescuing the financial system, more than half the value of everything produced in the U.S. that year

So, where's the inflation?

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Wed Jan 15th, 2014 at 12:42:18 PM EST
[ Parent ]

Re: When is a refutation not a refutation? (4.00 / 6)

Lending government money to rich people is growth, because only rich people create growth.

Lending government money to poor people is inflationary, because only poor people create inflation.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Wed Jan 15th, 2014 at 01:30:05 PM EST
[ Parent ]

Where's the inflation? (none / 0)

If you're an Austrian you can always get around not seeing price inflation:

@MigeruBlogger Inflation := expansion of the money supply. Price "inflation" is a market response to declining value of the monetary unit.
— SHSL Economist (@HettGutt) enero 14, 2014

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman

by Migeru (migeru at eurotrib dot com) on Thu Jan 16th, 2014 at 08:46:45 AM EST
[ Parent ]

Re: Where's the inflation? (none / 0)

Isn't expansion of the money supply supposed to trigger declining value of the monetary unit, or is the market catatonic?

by afew (afew(a in a circle)eurotrib_dot_com) on Thu Jan 16th, 2014 at 08:58:17 AM EST
[ Parent ]

Re: Where's the inflation? (none / 0)

I suppose the market has been drugged out of its senses by easy money.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman

by Migeru (migeru at eurotrib dot com) on Thu Jan 16th, 2014 at 09:42:32 AM EST
[ Parent ]

Re: Where's the inflation? (4.00 / 4)

Mr. Market is undergoing treatment for Anti-social Personality Disorder. Aripiprazole has been prescribed and the doctors are confident he will be able to be released to a half-way house in the near future.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Fri Jan 17th, 2014 at 12:24:59 PM EST
[ Parent ]

Re: Where's the inflation? (none / 0)

What an idiot.

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Tue Jan 21st, 2014 at 12:25:12 PM EST
[ Parent ]

Re: Where's the inflation? (4.00 / 3)

Sure, but it must be nice to be able to change the meaning of words to suit your statements. You can make any testable prediction, provided you use other words than in your previous testable predictions, and you will always be proven right!

It makes science somewhat easier to practice, doesn't it?

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Tue Jan 21st, 2014 at 12:50:42 PM EST
[ Parent ]

Re: Where's the inflation? (none / 0)

Right. "Your definitions don't agree with me, so I'll make up new ones, because fuck reality."

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Tue Jan 21st, 2014 at 08:03:17 PM EST
[ Parent ]

Re: Where's the inflation? (none / 1)

They're like Humpty Dumpty: Words mean what they say they mean. I saw that in my macro class 35 years ago.

by rifek on Thu Jan 30th, 2014 at 12:19:10 PM EST
[ Parent ]

When a refutation is anything but | 49 comments (49 topical, 0 editorial, 0 hidden)

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