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Arraya.
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February 24, 2008 at 4:39 AM #159108February 24, 2008 at 7:36 AM #159205
Eugene
Participantby your definition OIL is a bubble because it would be the most non-perishable commodity on the planet.
Oil, gas, and electricity are in a separate category. Political forces affect oil prices as much as market forces. There may be some bubbliness in oil, too.
you never considered that there actually may be a genuine shortage in certain grains. Wheat for example.
Genuine shortage, maybe. Climate change, maybe. Change in input costs (pass-through of high oil prices), probably. Enough of all that to justify 80% appreciation of wheat and soybeans since last June? And why do we see appreciation in soybeans, but not in meat?
How about the following statement which would be just as hard to refute: The only reason we EVER see (price) inflation is because of bubbles in various goods and services
Price inflation can be caused by other factors, including overheating economy (low unemployment) and printing presses. Economy is clearly not overheating and printing presses are stopped.
But you argue there hasn’t been any of that either. Geez I wonder where all the money comes up from to blow all the bubbles then?
There hasn’t been any monetary inflation for the last 12 months. Does not mean that people don’t have any money to blow up bubbles. People have TOO MUCH money.
February 24, 2008 at 7:36 AM #159129Eugene
Participantby your definition OIL is a bubble because it would be the most non-perishable commodity on the planet.
Oil, gas, and electricity are in a separate category. Political forces affect oil prices as much as market forces. There may be some bubbliness in oil, too.
you never considered that there actually may be a genuine shortage in certain grains. Wheat for example.
Genuine shortage, maybe. Climate change, maybe. Change in input costs (pass-through of high oil prices), probably. Enough of all that to justify 80% appreciation of wheat and soybeans since last June? And why do we see appreciation in soybeans, but not in meat?
How about the following statement which would be just as hard to refute: The only reason we EVER see (price) inflation is because of bubbles in various goods and services
Price inflation can be caused by other factors, including overheating economy (low unemployment) and printing presses. Economy is clearly not overheating and printing presses are stopped.
But you argue there hasn’t been any of that either. Geez I wonder where all the money comes up from to blow all the bubbles then?
There hasn’t been any monetary inflation for the last 12 months. Does not mean that people don’t have any money to blow up bubbles. People have TOO MUCH money.
February 24, 2008 at 7:36 AM #159121Eugene
Participantby your definition OIL is a bubble because it would be the most non-perishable commodity on the planet.
Oil, gas, and electricity are in a separate category. Political forces affect oil prices as much as market forces. There may be some bubbliness in oil, too.
you never considered that there actually may be a genuine shortage in certain grains. Wheat for example.
Genuine shortage, maybe. Climate change, maybe. Change in input costs (pass-through of high oil prices), probably. Enough of all that to justify 80% appreciation of wheat and soybeans since last June? And why do we see appreciation in soybeans, but not in meat?
How about the following statement which would be just as hard to refute: The only reason we EVER see (price) inflation is because of bubbles in various goods and services
Price inflation can be caused by other factors, including overheating economy (low unemployment) and printing presses. Economy is clearly not overheating and printing presses are stopped.
But you argue there hasn’t been any of that either. Geez I wonder where all the money comes up from to blow all the bubbles then?
There hasn’t been any monetary inflation for the last 12 months. Does not mean that people don’t have any money to blow up bubbles. People have TOO MUCH money.
February 24, 2008 at 7:36 AM #159109Eugene
Participantby your definition OIL is a bubble because it would be the most non-perishable commodity on the planet.
Oil, gas, and electricity are in a separate category. Political forces affect oil prices as much as market forces. There may be some bubbliness in oil, too.
you never considered that there actually may be a genuine shortage in certain grains. Wheat for example.
Genuine shortage, maybe. Climate change, maybe. Change in input costs (pass-through of high oil prices), probably. Enough of all that to justify 80% appreciation of wheat and soybeans since last June? And why do we see appreciation in soybeans, but not in meat?
How about the following statement which would be just as hard to refute: The only reason we EVER see (price) inflation is because of bubbles in various goods and services
Price inflation can be caused by other factors, including overheating economy (low unemployment) and printing presses. Economy is clearly not overheating and printing presses are stopped.
But you argue there hasn’t been any of that either. Geez I wonder where all the money comes up from to blow all the bubbles then?
There hasn’t been any monetary inflation for the last 12 months. Does not mean that people don’t have any money to blow up bubbles. People have TOO MUCH money.
February 24, 2008 at 7:36 AM #158817Eugene
Participantby your definition OIL is a bubble because it would be the most non-perishable commodity on the planet.
Oil, gas, and electricity are in a separate category. Political forces affect oil prices as much as market forces. There may be some bubbliness in oil, too.
you never considered that there actually may be a genuine shortage in certain grains. Wheat for example.
Genuine shortage, maybe. Climate change, maybe. Change in input costs (pass-through of high oil prices), probably. Enough of all that to justify 80% appreciation of wheat and soybeans since last June? And why do we see appreciation in soybeans, but not in meat?
How about the following statement which would be just as hard to refute: The only reason we EVER see (price) inflation is because of bubbles in various goods and services
Price inflation can be caused by other factors, including overheating economy (low unemployment) and printing presses. Economy is clearly not overheating and printing presses are stopped.
But you argue there hasn’t been any of that either. Geez I wonder where all the money comes up from to blow all the bubbles then?
There hasn’t been any monetary inflation for the last 12 months. Does not mean that people don’t have any money to blow up bubbles. People have TOO MUCH money.
February 24, 2008 at 10:27 AM #159231pemeliza
Participant“Price inflation can be caused by other factors”
One such factor is the devaluation of the currency which the good is priced in. When you erase the gains due to dollar weakness, prices may not seem as bubbly.
February 24, 2008 at 10:27 AM #159237pemeliza
Participant“Price inflation can be caused by other factors”
One such factor is the devaluation of the currency which the good is priced in. When you erase the gains due to dollar weakness, prices may not seem as bubbly.
February 24, 2008 at 10:27 AM #159219pemeliza
Participant“Price inflation can be caused by other factors”
One such factor is the devaluation of the currency which the good is priced in. When you erase the gains due to dollar weakness, prices may not seem as bubbly.
February 24, 2008 at 10:27 AM #159314pemeliza
Participant“Price inflation can be caused by other factors”
One such factor is the devaluation of the currency which the good is priced in. When you erase the gains due to dollar weakness, prices may not seem as bubbly.
February 24, 2008 at 10:27 AM #158926pemeliza
Participant“Price inflation can be caused by other factors”
One such factor is the devaluation of the currency which the good is priced in. When you erase the gains due to dollar weakness, prices may not seem as bubbly.
February 24, 2008 at 10:59 AM #159244JWM in SD
ParticipantJWM in SD
Pemeliza,
Look at a chart of M3 and correlate it to SD housing prices. It is almost perfect. The hyperinflation already happened. Debt/Money (m3) is created out of thin air and that is why you don’t need printing presses to have hyperinflation.
February 24, 2008 at 10:59 AM #159256JWM in SD
ParticipantJWM in SD
Pemeliza,
Look at a chart of M3 and correlate it to SD housing prices. It is almost perfect. The hyperinflation already happened. Debt/Money (m3) is created out of thin air and that is why you don’t need printing presses to have hyperinflation.
February 24, 2008 at 10:59 AM #159262JWM in SD
ParticipantJWM in SD
Pemeliza,
Look at a chart of M3 and correlate it to SD housing prices. It is almost perfect. The hyperinflation already happened. Debt/Money (m3) is created out of thin air and that is why you don’t need printing presses to have hyperinflation.
February 24, 2008 at 10:59 AM #159339JWM in SD
ParticipantJWM in SD
Pemeliza,
Look at a chart of M3 and correlate it to SD housing prices. It is almost perfect. The hyperinflation already happened. Debt/Money (m3) is created out of thin air and that is why you don’t need printing presses to have hyperinflation.
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