The vote was 11-1 in favor of QE3.
Time to print more monies...
Federal Reserve launches QE3 - Sep. 13, 2012
Time to print more monies...
Federal Reserve launches QE3 - Sep. 13, 2012
Fed Launches QE3
- Thread starter jryan21
- Start date
heh, heh, I'm in the mood today...
Show me the inflation bump that occurs when the Fed does a round of QE. I haven't seen any yet.
I've was in the hi-tech biz for ten years, now in shale oil and gas for the last 4. When the Paulanatics yell "inflation!" I start to giggle.
...And don't bother showing me graphs of the price of gold. Nobody gives a fuck about the price of gold.
Krugman... lol
[ame=http://www.youtube.com/watch?v=jEmKIRqz9AI]Ron Paul vs. Paul Krugman on Bloomberg TV - April 30, 2012 - YouTube[/ame]
[ame=http://www.youtube.com/watch?v=jEmKIRqz9AI]Ron Paul vs. Paul Krugman on Bloomberg TV - April 30, 2012 - YouTube[/ame]
Sounds like you're talking about price inflation, not the expansion of the money supply. You have talked about price inflation in the past, calling it "inflation," without making the distinction. I have followed your posts in the past with the distinction.
Lots of things can affect the rise and fall of prices. You and I both have better things to do than debate that.
But if you would like to see an "inflation bump that occurs when the Fed does a round of QE" that refers to the monetary base, here it is:
For those unfamiliar with the meaning of the monetary base, here is a quick 3-minute overview:
Lost in a Maze of Money Aggregates? - Robert P. Murphy - Mises Daily
For those who would like to learn more about the distinction between price and money inflation:
Making Economic Sense
At Benji49: you will note I have met all criteria necessary to avoid sounding crazy on the internet. 
Sure, I'll try to explain myself.
My definition of inflation:
Whether the price on the a basket of goods and service that I care about, rises in terms of the currency that I get paid in.
By my definition there has been no inflation for the last ten years. My mortgage payments have not gone up. My groceries have not really gone up by a significant amount The cost of electronics have not gone up, they have gone down. The bottle of Malbec that I like to drink (too much) and buy at the corner liquor store has not really gone up.
You can be technically accurate that QE2 and QE3 is inflatiing the money supply. But that is not relevant - no, no, I mean to say that is not of interest -- to somebody like me.
If you show that QE2 and QE3 impacts MY definition of inflation and thus negatively impacts my living standards, you will have my attention.
But graphs of the money supply? I don't give a fuck. I'm in the financial newsletter industry. I see a million of those a day.
(Note, I have wrapped asbestos around my bum. Feel free to fire away)
My definition of inflation:
Whether the price on the a basket of goods and service that I care about, rises in terms of the currency that I get paid in.
By my definition there has been no inflation for the last ten years. My mortgage payments have not gone up. My groceries have not really gone up by a significant amount The cost of electronics have not gone up, they have gone down. The bottle of Malbec that I like to drink (too much) and buy at the corner liquor store has not really gone up.
You can be technically accurate that QE2 and QE3 is inflatiing the money supply. But that is not relevant - no, no, I mean to say that is not of interest -- to somebody like me.
If you show that QE2 and QE3 impacts MY definition of inflation and thus negatively impacts my living standards, you will have my attention.
But graphs of the money supply? I don't give a fuck. I'm in the financial newsletter industry. I see a million of those a day.
(Note, I have wrapped asbestos around my bum. Feel free to fire away)
WAIT! What's she eating here? Does not look like popcorn, so I'm hoping it's something ridiculously stereotypical and racist.
At Benji49: you will note I have met all criteria necessary to avoid sounding crazy on the internet.
necessary ≠ sufficient
</troll>
Benji's definition of inflation is the only one that matters to people. How much has my fucking cost of living in U.S Dollars changed. That's how it's defined by the bureau of labor statistics, and that's what matters to people. You can redefine shit all you want and then have a conversation based on your revised definition, but that's a dumb path.
Saint Ben decided to go with QE3 because inflation for the last 12 months was only 1.6% and he was only trying to keep it under 2%.
I know I know.. it would all be better under a gold standard right? Cause inflation just doesn't occur under those conditions, right?? Oh wait, if you actually look at data instead of repeating bullshit you heard somewhere you'd see inflation during our gold-standard years was horrendous and unstable. I'll take the last 20 yrs of inflation vs the yrs of gold standard inflation any day.
Thankyou Ben, for saving America!
(Ok, this post is a mix of trolling for fun and truth, like most of my posts)
Saint Ben decided to go with QE3 because inflation for the last 12 months was only 1.6% and he was only trying to keep it under 2%.
I know I know.. it would all be better under a gold standard right? Cause inflation just doesn't occur under those conditions, right?? Oh wait, if you actually look at data instead of repeating bullshit you heard somewhere you'd see inflation during our gold-standard years was horrendous and unstable. I'll take the last 20 yrs of inflation vs the yrs of gold standard inflation any day.
Thankyou Ben, for saving America!
(Ok, this post is a mix of trolling for fun and truth, like most of my posts)
Only morons invested in gold would care about the price of everything else in the world compared to the price of gold. Fuck gold. Gold is good for speculation, nothing else.