[XBoxBoy]

Gzz, I really don’t get the point of this thread or your remarks. Just who are you claiming are inflata-doomers? Sure, there’s tons of click bait on the web about inflation going crazy. There always has been. There’s still more click bait about about everything you can think of. (The markets are going to crash every day if you follow some of the headlines.) Do you take this click bait as being representative of the MSM? How do you come to the conclusion that all the people posting click bait or trying to spread inflation doom scenarios have stopped? Maybe more importantly why are you angry about this?

From my daily intake of MSM I see healthy discussion about whether inflation is transitory or will last. But in the MSM I mostly see articles about how in the last couple of months inflation has been higher than expected, but interest rates have continued to fall, so it’s a bit confusing. Overall, from the MSM websites that I visit I don’t see much more than a bit of concern over the situation. And more I see people reassuring that this inflation probably won’t last. (Personally, I have no idea either way, which is why I started the thread asking if inflation is transitory.)

What’s more, I’m not even sure why you care that actual data came in different than expectations. Whose expectations? Not mine. Why should I or anyone care about that? Doesn’t data come in different than expectations all the time?

And as a last comment, I’ll just suggest that you shouldn’t start waving the victory flag after one months data.

[XBoxBoy]

Brilliant!

I’ve wondered how many people are doing this. At the company I work, there are a couple people I wonder if they aren’t working another job as well. One programmer has gone over a month checking in nothing, and then when pressed on it, checked in about a days work. (I think he’s playing games all week though, not working two jobs)

Another would do some work, then nothing for a couple weeks, do a bit more and then nothing for another couple weeks. I wouldn’t be the least bit surprised if he doesn’t have multiple jobs.

[XBoxBoy]

[quote=Coronita] Just look at Evelyn Lin….[/quote]

Do you mean that literally, or figuratively?

[XBoxBoy]

Sent you a PM.

[XBoxBoy]

[quote=carlsbadworker]
Right. But US income range is similar to European country, Australia or our neighbor Canada. But its price to income ratio is almost half of those countries.[/quote]

Income is higher in USA I would think. (though not double.) But ease of getting home loans and lower interest rates could be a big factor.

[XBoxBoy]

Looking at the site where you got this chart, it looks like they are using price to income to determine their price index. If income is low, then the Price to Income Ratio will be higher. Thus poor countries will have the highest ratios.

[XBoxBoy]

[quote=EconProf]Your history is largely correct, but it does not relate to what I said. [/quote]

Oh yes it does! You said:

[quote=EconProf]
Given recent inflation numbers, this cannot last, as history sadly shows. The parallels between Biden and Fed chairman Powell and President Carter and Fed Chairman Arthur Burns are uncanny. The stagflation that followed those two lasted for years.[/quote]

Which clearly establishes a relationship between Carter and Burns. And clearly implies that Carter and Burns were the cause/precedent that lead to years of stagflation.

Now you want to back track and say you were referring to the economic conditions and policies, not the people. There’s a name for what you’re doing. It’s called gaslighting and I for one am not buying it.

[XBoxBoy]

[quote=EconProf]sdr: I bring facts to the table, [/quote]

Oh the irony!!!

[XBoxBoy]

[quote=EconProf]Given recent inflation numbers, this cannot last, as history sadly shows. The parallels between Biden and Fed chairman Powell and President Carter and Fed Chairman Arthur Burns are uncanny. The stagflation that followed those two lasted for years.[/quote]

Haha! What a clown comment! And from someone who uses EconProf as their handle.

Let’s get a couple facts straight. Arthur Burns first major govt office was Counselor to the President in 1969. And was that for President Carter? NOPE! That was for President Nixon! Then in 1970 Arthur Burns became Chairman of the Fed. Again while Nixon was president.

As inflation started to heat up, Nixon and Burns (Not Carter and Burns) imposed wage and price controls in 1971. This didn’t work so well but undeterred Nixon engaged in lots of deficit spending and then took the dollar off the gold standard. And then Nixon pressured Burns to loosen the money supply so that the economy would boom and Nixon would get reelected. In 1973 inflation had reached 8%. This wasn’t it’s peak, but keep in mind Carter is only the Governor of Georgia at this time.

Things only get worse re inflation for the next several years reaching 12% in 1974. (And worse for Nixon too as he is forced to resign leaving Gerald Ford president.)

January 20, 1977 Jimmy Carter takes over the presidency. A little more than a year later Arthur Burns is out at the fed. Replaced by William Miller, and thus ending any partnership between Carter and Burns. Another year later (Aug. 6, 1979) Paul Volker takes over as Chairman of the Fed Reserve.

So, let’s get this straight:

1970: Nixon appoints Arther Burns Chairman of Fed Reserver

1970-1974: Inflation starts to heat up under Nixon/Burns partnership that includes deficit spending, price and wage controls and taking the dollar off the gold standard.

1974-1976: Ford is president with Arthur Burns still the Fed Chairman. During this time inflation first rises to 12% but falls to 5% by late 1976

1977: Carter becomes president and Arthur Burns remains Chairman of the federal reserve. This partnership you want to blame everything on lasts only 14 months.

1979: Carter nominates Paul Volker to be new Chairman of Federal Reserve. (Volker is generally considered to be the man who tamed the 1970’s inflation)

Given all the above, it is stunning, yes absolutely stunning that someone who claims to be an economics professor would make such a misleading claim that inflation in the 1970s was largely the result of Carter and Burns. If anything you should be blaming Nixon and Burns. Nixon is the one who nominated Burns and had a long partnership with him. Carter should be paired with Volker who he nominated.

Of course that doesn’t fit with your completely delusional political views so I guess we shouldn’t be surprised. But really, it’s time to stop making shit up and stop spreading misinformation.

[XBoxBoy]

[quote=scaredyclassic]Burlington VT.

Great temperature.

Downside…chilly winter ….

[/quote]

Yeah, average high in January is 27 degrees. A bit chilly…

[XBoxBoy]

[quote=zk]
Seems just a tad pricey, so between being cheap and being old (and maybe thus resistant to change), I’m not sure I can get on board. [/quote]

Well, if you’re cheap than try these:

100% cotton

[XBoxBoy]

While it might not be relevant for many of you, never ever where nylon when doing hot work such as welding. Never ever!

[XBoxBoy]

[quote=gzz]
Also, to be a true apples to apples comparison, the excess rent over expense would also need to be “reinvested.” [/quote]

If some of the excess rent was used as down payments on new properties, then it was reinvested. And if you’re doing your own property management, you’d want to include a cost based on that time. So doing an apples to apples is pretty darn near impossible given all the little details that add up. (I’m sure there are even more details that I haven’t thought of.)

[XBoxBoy]

Needless to say, prices can vary a lot depending on what you do, what obstacles you have to overcome and what problems you run into. But the ballpark number I hear for this kind of thing is around $300 a square foot. Can vary substantially from that though.

[XBoxBoy]

Are you asking what it would cost you or what a builder pays to build a house in a new subdivision? The costs for building a single custom house are higher for a homeowner trying to build a custom house then a builder building a bunch of houses at the same time, same location. Are you talking about building in the Coastal Zone and thus need to pay for a coastal zone permit? Are you including costs of architect or do you have plans? Are you assuming current high lumber prices and steel prices will have fallen back down to normal before building?

[Author]

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