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jimh406
Western MT
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restlessways wrote:You are just as responsible as anybody for the outrageous prices.
He’s as responsible as anybody … as responsible as you. ![[emoticon]](http://www.coastresorts.com/sharedcontent/cfb/images/grin.gif "grin")
Seriously though, people are buying a lot of different 100K vehicles now and get paid a lot more than they used to. I think paying people more has more to do with inflation than the people who are buying new things. But hey, that’s just me. ![[emoticon]](http://www.coastresorts.com/sharedcontent/cfb/images/wink.gif "wink")
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restlessways
Limbo
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You would be wrong. I haven't overpaid for any cars, RVs, houses boats or otherwise. The people who are running up the prices of those are the ones responsible. Wake up.
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jimh406
Western MT
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restlessways wrote:You would be wrong.
It was just a play on words. You said anybody.
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3 tons
NV.
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restlessways wrote:3 tons wrote:Well, consider that different folks are often at different stations in life - I prefer to see my house drop in value just to reduce future property tax increases - a rise in value goes me zero good whatsoever, but that’s just me ![[emoticon]](http://www.coastresorts.com/sharedcontent/cfb/images/smile.gif "smile")
3 tons
Inflation, while a monetary phenomenon, is not possible without people like you who pay the inflated prices, then try to justify it on forums like this. You are just as responsible as anybody for the outrageous prices.
One is free to believe whatever they like, but you Sir are somewhat mistaken if you believe that inflation is some sort of ‘monetary phenomenon’… What confounds me (but sadly, to our country’s collective detriment…) is how least understood the fundamentals are which make up today’s financial and economic system - mostly because these fundamentals have not been taught!!… Truth is that (like it or not…), ‘phenomenon’ in this context confuses mere happenstance with a well planned methodology…
However, trust that I do share in your deserved frustrations…
3 tons
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restlessways
Limbo
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3 tons wrote:restlessways wrote:3 tons wrote:Well, consider that different folks are often at different stations in life - I prefer to see my house drop in value just to reduce future property tax increases - a rise in value goes me zero good whatsoever, but that’s just me
3 tons
Inflation, while a monetary phenomenon, is not possible without people like you who pay the inflated prices, then try to justify it on forums like this. You are just as responsible as anybody for the outrageous prices.
One is free to believe whatever they like, but you Sir are somewhat mistaken if you believe that inflation is some sort of ‘monetary phenomenon’… What confounds me (but sadly, to our country’s collective detriment…) is how least understood the fundamentals are which make up today’s financial and economic system - mostly because these fundamentals have not been taught!!… Truth is that (like it or not…), ‘phenomenon’ in this context confuses mere happenstance with a well planned methodology…
However, trust that I do share in your deserved frustrations…
3 tons
You might have been a little more convincing had you not failed to realize that the "monetary phenomenon" was a quote from Milton Friedman, a Nobel Prize winning economist. I suspect you're a little outside of your area of expertise.
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Grit dog
Black Diamond, WA
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Wow! Not sure who is insulting more eloquently here….lol
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3 tons
NV.
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I have total respect for uncle Milty (of the Austrian School of econ), yet what’s missing is the all important context, and note that he was not in every case 100% correct, as evidenced just prior to his passing he recounted just how wrong he was when advising Nixon to ditch the gold standard, but this just misses the point on what inflation is, why it exist and why as unlikely it may seem, most folks actually benefit from it (while voicing their complaints! ), much depends here on who’s financial oxen are getting gored - lol…
As inflation keep’s *bidding-up the price of things, home prices go up (as do folks estates!), while justifying higher wages and COLA adjustments, and inflation helps ensure that mortgages in their latter years get paid back with cheaper (depreciated) dollars, while for others, well paying jobs are lost (as inflation is seemingly combated by Gov’t, and in industry..), while hitting especially hard those living on fixed incomes (inflation, a thief that comes in the night!)…
* a key feature of ‘Rentier Economics’ (e.g. non-production based rent-royalty, service based - an appendage of pre-industrial medieval economics, rekindled post WW II…)…
Truth is that inflation is just another form of a planned tax (indirect, thus hidden..) that if taxed directly (as with the pre-revolutionary tax on tea!), folks would demand a sudden repeal…This is the actual means of how ‘promises’ are made…
A great discussion!
3 tons
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3 tons
NV.
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For those unfamiliar, here’s a clip of Milton describing the true cause of inflation, and BTW, it has nothing to do with folks buying goods except when these goods are in relative rare supply (demand up bidding occurs)..Dear Milton (RIP) hits on the REAL cause which might only perceived as a ‘phenomenon’…As previously stated, it’s not that the cost of things keeps going up, it’s that the value of the currency keeps going down - in the form of a deliberate indirect hidden tax - thus, no phenomenon is to be found…
For a better explanation, start Milton at about 5:30 in:
https://www.youtube.com/watch?v=GJ4TTNeSUdQ
3 tons
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3 tons
NV.
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Grit dog wrote:Wow! Not sure who is insulting more eloquently here….lol
My bad ![[emoticon]](http://www.coastresorts.com/sharedcontent/cfb/images/frown.gif "frown") if it came across this way as no insults were intended - I do in fact get the jest of his point which (say, for the broader audience…) warrants deeper consideration - Economics can be a terrible dry subject - It has even been said that Economist exist in order to make Astrologers look good !!
3 tons
* This post was
edited 05/06/23 05:40pm by 3 tons *
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BradW
Mayor of Flat Rock
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Throwing gas on a fire will just get you a bigger fire.
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