Best Santelli Rant in a while..

Quote from Tsing Tao:

Yes.
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And this is why your views are marginal. Very few (who think about and measure these things) believe that. Again, it doesn't necessarily mean you're wrong, but... : )
 
Quote from Ricter:

And this is why your views are marginal. Very few (who think about and measure these things) believe that. Again, it doesn't necessarily mean you're wrong, but... : )
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If anyone ever wondered what doubletalk looks like, this is a classic example from our resident dumbass.
 
Quote from Ricter:

And this is why your views are marginal. Very few (who think about and measure these things) believe that. Again, it doesn't necessarily mean you're wrong, but... : )
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Very few what? Princeton economists? Very few Keynesian educators or bloggers?

Everyone who goes into the grocery store believes inflation is high. They see things that the Fed doesn't consider. First, the Fed doesn't even look at CPI, it looks at core, right? No food and energy. A long time ago when these prices weren't volatile, that was fine but as an increasing amount of people's disposable income is made up of food and energy, it's very important now. The Fed doesn't even look at food in their dual mandate, much less consider things like "is a gallon of milk going through the roof?" or "why is my 20oz can of peaches now 16oz for the same price?" (downsizing is not computed in food CPI at all). Then of course there is hedonics and the many, many revisions of how CPI is calculated over the last 30 years to benefit the government.

My views are very much out there. But media and main street (read: Keynesian) economists dismiss it as irrelevant or incorrect, yet can never argue against it. Much like you do.
 
Quote from Tsing Tao:

Very few what? Princeton economists? Very few Keynesian educators or bloggers?

Everyone who goes into the grocery store believes inflation is high. They see things that the Fed doesn't consider. First, the Fed doesn't even look at CPI, it looks at core, right? No food and energy. A long time ago when these prices weren't volatile, that was fine but as an increasing amount of people's disposable income is made up of food and energy, it's very important now. The Fed doesn't even look at food in their dual mandate, much less consider things like "is a gallon of milk going through the roof?" or "why is my 20oz can of peaches now 16oz for the same price?" (downsizing is not computed in food CPI at all). Then of course there is hedonics and the many, many revisions of how CPI is calculated over the last 30 years to benefit the government.

My views are very much out there. But media and main street (read: Keynesian) economists dismiss it as irrelevant or incorrect, yet can never argue against it. Much like you do.
More...

Keep in mind that this is adjusted for inflation:

<img src="http://upload.wikimedia.org/wikipedia/commons/thumb/a/a7/United_States_Income_Distribution_1967-2003.svg/800px-United_States_Income_Distribution_1967-2003.svg.png">

You're concerned about our loss of purchasing power, or our distribution of income?
 
Quote from Ricter:

You're working today, pisspoor, good. (Thanks, Tsing)
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Oh, I've been on your case today, Rectum. Don't worry. I've got you covered. :D
 
Quote from Ricter:

Keep in mind that this is adjusted for inflation:

<img src="http://upload.wikimedia.org/wikipedia/commons/thumb/a/a7/United_States_Income_Distribution_1967-2003.svg/800px-United_States_Income_Distribution_1967-2003.svg.png">

You're concerned about our loss of purchasing power, or our distribution of income?
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Can't I be concerned about both?
 
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