Consumer prices drop record 1 percent in October
Posted November 19th, 2008 by xntryk1
output
Nov. 19, 2008
Consumer prices drop record 1 percent in October
By Martin Crutsinger, Ap Economics Writer
WASHINGTON – Consumer prices plunged by the largest amount in the past 61 years in October as gasoline pump prices dropped by a record amount.
The Labor Department said Wednesday that consumer prices fell by 1 percent last month, the biggest one-month decline on records that go back to February 1947. The drop was twice as large as the 0.5 percent decline analysts expected.
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We are experiencing asset
We are experiencing asset deflation and monetary inflation at the same time. Without the monetary inflation the asset deflation would probably be a lot worse. We probably won't be hurt by the monetary inflation until the asset prices bottom out, then the problem will be inflation of the money supply and everything else.
Right, deflation, like it shows in these
figures from the Federal Reserve where the monetary base has doubled within the last week:
http://www.federalreserve...
or deflation, as it shows up in these money supply charts:
http://www.shadowstats.co...
or "price deflation"--what everyone is getting so excited about-- showing up in the CPI chart, that, in all fairness, does show a decrease--to price levels that took us back a whole 11 months, to January, 2008 levels. Of course, the current criteria for calculating the CPI excludes such useless variables like food and fuel.
http://www.shadowstats.co...
Now, if I came up with nonsensical arguments, misdefined my terms, and insulted everyone who tries to point out the flaws in my hair brained theories, er, I mean, opinions; I too would feel vindication when the mainstream financial media came out with stories based on trumped-up statistics that support my subjective, and for most part unique, point of view.
For everyone else, don't be fooled. We may be witnessing temporary price decreases due to a lack of demand for goods based on a general level of fear in the economy; but a data blip based on a one month decrease is not sustained deflation--price, monetary, or otherwise--not by a long shot.
If the FED creates credit in a forest and no one was there
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
to take it, does it create inflation?
Your analogy is misleading.
The banks have already taken the money, they are using it to buy other banks. Eventually, they will have to pay back this money to the Federal Reserve at interest, however low that rate may be. In order to do so, they will have to lend out this money at an interest rate higher than the interest rate that the fed is charging them. All of this, by its definition, is inflationary, not deflationary.
“The ultimate result of shielding men from the effects of folly is to fill the world with fools.”
-- Herbert Spencer
If banks take money in a forest and no one was there to borrow,
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
does it create inflation? LOL.
By the way, any definition of inflation is pretty much meaningless if we are having deflation in real life, in my opinion.
Funny.
What you forget is that even if retail banks are unable to lend to bankrupt consumers; the banks still have the public sector at all levels that they will lend to. I have never seen any entity that is able to spend money so quickly and inefficiently as a government agency.
Look, you believe that deflation is upon us--whatever your definition of deflation may be. I believe that we will indeed see deflation, but only after we first see price disinflation, price biflation, and price hyperinflation. Deflation will come about, but only after everyone loses faith in the currency; and when it happens, it will be complete, quick, and brutal. In other words, no amount of dollars will be able to buy any amount of goods.
Let's leave it there.
“The ultimate result of shielding men from the effects of folly is to fill the world with fools.”
-- Herbert Spencer
GREEDISDUMB you are twelve
You have no credibility and are a troll. If anyone takes advice from you I fear they will be the worse for wear. You=troll.
AWESOME!!! Hurry up and drop
40 to 50% like the market! Then those of us that saved our cash and did not borrow on credit will be able to buy goods and services for a fair and real price rather than the hyper inflated unrealistic prices that have been perpetuated so long. The house over your head is shelter, not your golden cow.
Hurry up? Gas is $1.79 at a nearby gasstation. Alread over 50%
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
down from the high this year. Give time and other things are very likely to come down. Some faster than others.
Just my opinions.
Gas yes, but
other commodities, services, etc. have yet to come down as they should.
Exactly....Deflation is the
Exactly....Deflation is the great liberator if you are not in debt, it gives you much more purchasing power with each and every fiat dollar.
http://www.1776solution.b...
I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater
Happy
for the concurrence. Work hard, grow food, have a well and save rather than spend foolishly and it might allow for a more pleasurable and sensible way to live. Lots of free time and living the life with the people who are important to you and better for everyone else. Small is beautiful.
You have done well indeed judging from what you wrote.
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
I've heard that people get what they deserve. In my opinion, those who have borrowed and spent recklessly for years are less likely to derserve or get debt forgiveness by hyper-inflation, in my opinion.
On the other hand, I wouldn't be surprised if you are rewarded in the future.
Obama lowered the prices!
How's that for sarcasm?
--Cliff, Sioux City, Iowa
---------------------------------
My reasoning sounds pretty reasonable to me.
Secret key to happiness: Stay happy. Shhh!
They have called me every name in the book.
A "deflationista", government troll, treasury agent, troll,
I've been saying for months...
Deflation...Deflation...Deflation..
This is entirely different from any other time in history because the money that is "printed" is not actually printed. It is computer entries and the financial system is still deleveraging.
Only 3% of money is CASH. Cash is king..
Gold is a store of value and will hold value "relative" to the rate of inflation, but that does not mean it will not decrease in value during a deflationary scenario.
Also, historically Gold has Declined during economic collapse after the initial rally. This is because frankly you can't eat Gold, you Can't wear it, it isn't medicine. But, as an inflation hedge its o.k. It will just decline slower than the rate of deflation.
Gold Was Price Fixed during the Depression
At $35 an ounce. So that made the mining stocks go up. But,
Silver was NOT FIXED AND DROPED 85% TO 90% IN VALUE..
So your logic is flawed.
It was the price fixing of Gold that caused that effect...Gold miners could sell Gold for more than its intrinsic value.
I suggest you study history a little more..
Panic of 1870,
Panic of 1917,
And look further back, to other mania's and panics.
I will tell you what. We can bet a dollar for braging rights.
Gold will be lower than it is now in 1 year.
That lower price may buy more goods than it does today (deflation) but Gold will be lower.
Therefore, Gold will decline in price and rise in Value.
Not a odd concept at all.
really... what did gold
really... what did gold stocks do during the 1930's? you could not buy gold during the 30's because the government confiscated it.. but you could buy gold stocks... homestake mining went from 1.00 per share to 600.00! so its does not look like gold did bad during that depression.. brush up on your history! also cash was king during the depression for what reason?? i'll let you try to answer that before I tell you!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
As far as you being a troll,
As far as you being a troll, well it looks like that shoe fits based on one or two of your postings in the last day or so!
I mean really...your post that Ron Paul was a Zionist was almost as stupid as your other one about Hagee.
I am sure that you and GREED will be very happy together!
http://www.1776solution.b...
I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater
Hey.... The word is either Cannabis or Callamus..
It isn't Stupid.. It is a serious issue.
Because the word is Cannabis...if not then
Christians Preach Jesus Used Ecstasy..
http://www.dailypaul.com/...
Saying it is stupid is a straw man argument and akin to saying.
Na na na na na na an sticking your tounge out because you have no intelligent response to the facts presented.
Callamus inflused oil would be saying that Jesus and the priests used Ecstasy.
~~~~~~~~~~~~
“And God said, Behold, I have given you every herb bearing seed, which is upon the face of all the earth, and every tree, in the which is the fruit of a tree yielding seed; to you it shall be for meat.” Genesis 1:29.
“And by the river upon the bank thereof, on this side and on that side, shall grow all trees for meat, whose leaf shall not fade, neither shall the fruit thereof be consumed: it shall bring forth new fruit according to his months, because their waters they issued out of the sanctuary: and the fruit thereof shall be for meat, and the leaf thereof for medicine.” Ezekiel 47:12.
~~~~~~~~~~~~~~~~~~~
COME WITH ME FROM LEBANON, MY BRIDE, COME WITH ME FROM LEBANON. DESCEND FROM THE CREST OF AMANA, FROM THE TOP OF SENIR, THE SUMMIT OF HERMON. . .
HOW DELIGHTFUL IS YOUR LOVE, MY SISTER, MY BRIDE! HOW MUCH MORE PLEASING IS YOUR LOVE THAN WINE, AND THE FRAGRANCE OF YOUR OINTMENT THAN ANY SPICE!. . .
THE FRAGRANCE OF YOUR GARMENTS IS LIKE THAT OF LEBANON. . .
YOUR PLANTS ARE AN ORCHARD OF POMEGRANATES WITH CHOICE FRUITS, WITH HENNA AND NARD, NARD AND SAFFRON, KANEH (Cannabis) AND CINNAMON, WITH EVERY KIND OF INCENSE TREE.
SONG OF SONGS 4:8
~~~~~~~~
YOU HAVE NOT BROUGHT ANY KANEH (Cannabis) FOR ME, OR LAVISHED ON ME THE FAT OF YOUR SACRIFICES. BUT YOU HAVE BURDENED ME WITH YOUR SINS AND WEARIED ME WITH YOUR OFFENCES.
ISAIAH 43:23-24
~~~~~~~~~~
WHAT DO I CARE ABOUT INCENSE FROM SHEBA OR KANEH (Cannabis) FROM A DISTANT LAND? YOUR BURNT OFFERINGS ARE NOT ACCEPTABLE; YOUR SACRIFICES DO NOT PLEASE ME.
JERIMIAH 6: 20
~~~~~~~
DANITES AND GREEKS FROM UZAL BOUGHT YOUR MERCHANDISE; THEY EXCHANGED WROUGHT IRON, CASSIA AND KANEH (Cannabis) FOR YOUR WARES.
EZEKIEL 27:19
Cannabis is Money in the Bible...
Yeah GREED, ZonBoni is a
Yeah GREED, ZonBoni is a good one to ally yourself with...as I said, you should be very happy together.
ZonBoni....I could give a sh*t what the bible does or does not say about weed.
http://www.1776solution.b...
I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater
Man, did you make a huge bet on inflation or something?
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
Are you so irritated because you are losing big time?
In my opinon, inflation IDIOTS are the trolls. You see they
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
don't want people to realize that it's going to be deflation while they prepare for the collapse, in my opinion. Otherwise, it's hard for me to believe that some people can be so STUPID. Either they are totally brainwashed or spreading the false idea of inflation on purpose, in my opinion.
Right, that's it GREED,
Right, that's it GREED, after all you have to fall back on some excuse that holds about as much water as your opinions. Have you looked at the Bond Market GREED? Tell me what you see? Can you? Do you even know what you would be looking for?
http://www.1776solution.b...
I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater
I see DEFLATION.
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
Really? Tell me what you are
Really? Tell me what you are looking at and what indicators you see in the bond market, just in the movements today, that would indicate to you that inflation is not on the horizon.
http://www.1776solution.b...
I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater
I see that beautiful deflation as well ,and I thank God
Or whatever gave it to us!
I have taken the opportunity to stock up on 30 year shelflife foods ,water,Gasoline,weapons,ammo,
silver,gold camping gear ,several gardens of vegetables...and I'm ready for phase two.
When all this bailout money starts flowing and the crooks have had their glutonous fill you will see massive inflation that will finally kill the dollar. hang-on for the ride of your lives.
You should read Deflation
You should read Deflation and Liberty by Jorg Guido Hulsmann. I know GREED won't read it, he has trouble reading long post on the DP. LOL
http://www.1776solution.b...
I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater
Ahh...you probably have to wait at least 10
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
years for that, in my opinion.
10 ? not Forty?
you sure? lol
Really? Strange, for months
Really? Strange, for months now you have been saying that this way it, the Great Deflationary Collapse, the END...how then could inflation come around in 10 years? The other day you said that someone would have to wait 40 years to see hyperinflation....my, my what a crystal ball you have. Actually, you just said the the money mechanism has reached a brick wall, the system was collapsing...if so then how can there be any more inflation. The truth is that you are not even aware of what you have already said, you are now confusing yourself.
So, since you have that crystal ball, tell me what you saw in the Bond Market today? You don't know do you GREED? You are simply expressing another groundless opinion as you always do. Why don't you 'fess up, thats a good place to start a learning process because a prideful man is a poor man.
http://www.1776solution.b...
I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater
Hyper inflation IDIOTS are quick to hype gold and silver, but
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
ignore this news. This topic was posted over 9 hours ago as of this writing, but no one has said anything about it!!!
What I just saw on the news
What I just saw on the news said that food and medical care are still goping up.. now I find it funny that when prices were rising the cost of energy was not in the mix.. now that gas is dropping in price they add it in to make there inflation numbers look good?? don't believe a word the government tells you.. thier statistics LIE!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
MORONS were screaming PEAK OIL and HYPER INFLATION when
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
the price of gas was going up, but now that the price of gas is going donwn, it doesn't count anymore? What? You are likley to conveniently forget about your COMEX default soon, in my opinion.
You've been WRONG too long. You will do better as a zoo exhibit, in my opinion.
The government inflation
The government inflation measure has always been biased.
http://www.1776solution.b...
I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater
can you explain. im going to start buying gold and silver next
week
im a student so my resources are limited. shall i buy now or wait?
_____
Action is what defines men
Be careful who you ask
Be careful who you ask advice from Mickey...Greed hasn't made up his mind if he is or is not bullish on gold and silver, he changes his mind on everything but his own well-seated opinions.
I would go ahead and buy some 1964 90% junk silver coin if you are on a limited budget.
http://www.1776solution.b...
I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater
Republicae thanks. can you give me trustworthy websites?
or will I have to be shopping at the pawn shop?
I need real good websites. is the liberty dollar website good?
also do you know about seekbullion.com? is it worth buying from?
and for physical buys whos better jewlery shops or pawnshops
please help me im ignorant as far as buying stuff
_____
Action is what defines men
I've ordered from these with
I've ordered from these with no problems:
http://lynncoins.com/jsil...
http://www.ccsilver.com/s...
http://www.cmi-gold-silve...
http://www.monex.com/prod...
http://www.1776solution.b...
I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater
Republicae you are such a healer. thanks my fellow DailyPauler
all will be bookmarked now
and which is the best of those?
_____
Action is what defines men
The idiot is one who doesn't
The idiot is one who doesn't see what is happening...that would be you....check out the Bond Market GREED, tell me what it is showing right now? One of the best indicators of future inflation or deflation is the Bond Market...guess, just guess where the fear marker is heading? A hint, it ain't deflation! Bonds are closest to the fiat money fountain...it's a very, very good indicator of things to come.
You are taking bits and pieces and ignore so much information that it is amazing. Look at gold, what's has it been doing for weeks? It has been trading in a tight sideways formation, not a downward trend. You want to see real deflation, then look back at 1969 with its massive profit deflation, see what happened then, that little "scare" facilitated the massive inflation of the 1970s and 80s.
http://www.1776solution.b...
I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater
republicae..,,, could you
republicae..,,,
could you explain exactly how the bonds show either deflation or inflation? I would like to brush up on that.
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
There are several things
There are several things that happen in the bond market that first give an indication that inflation is feared, movements in bond swaps from various maturities does that, that happened today indicating a degree of inflation fear entering the market. The next move is when you see certain investors begin to unload bonds or as I said swap then their tends to be a reason behind it and that reason is inflation.
With the massive attempts to recapitalize and reinflate by the FED, a fall in bonds would indicate that, after a period of deflation, we can expect inflation striking back.
As I said, I just saw a whiff of this beginning to take place in the Bond Market today, but it was enough for me to think that the FED's effort to reinflate are beginning to pay off for them.
http://www.1776solution.b...
I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater