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(Huffington Post)   "Worried about Fed-fueled financial bubbles? Thank austerity"   (huffingtonpost.com) divider line 32
    More: Fail, financial bubbles, Federal Reserve, U.S., U.S. economy  
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1792 clicks; posted to Business » on 06 May 2013 at 6:16 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-05-06 06:31:09 PM
Hyper-inflation!!!

I've known about 10 ppl who have recently died swearing the hyper-inflation from the fed printing money is going to happen.

They all also thought the rapture would happen in their lifetimes.
 
2013-05-06 07:01:18 PM
Just wait until most of the oil in the US starts to come on-line.  The Eagle Ridge and Bakken Shale are both nowhere near their eventual output levels.  Cheap energy = deflation.  That's why the Saudis are increasing their production so much right now, all of OPEC will be at each others' throats if oil goes below $80 a barrel.  And Russia and Venezuela might have revolutions.
 
2013-05-06 07:24:51 PM
That's what's needed all right, 2.2 million more government cubicle workers. Then we'd be sitting pretty.
 
2013-05-06 07:29:29 PM
Horseshiat.  A 2% cut is nothing with this spendthrift government.
 
2013-05-06 07:35:15 PM

jjorsett: That's what's needed all right, 2.2 million more government cubicle workers. Then we'd be sitting pretty.


Or you could put some money towards replacing your crumbling infrastructure instead of cubicle workers, but I realize that's socialism!
 
2013-05-06 07:37:48 PM
Clearly then, the US Federal Government can continue spending without restraint, or a plan, indefinetly. I'm totally sold.

\\What if the sequester came and no one notice, except for getting pissed off at the FAA's "Washington Monument" maneuver ?
 
2013-05-06 07:39:42 PM
Thank you austerity!

/It's what you wanted right?
 
2013-05-06 08:12:49 PM
There is no austerity.
 
2013-05-06 08:21:05 PM

jjorsett: That's what's needed all right, 2.2 million more government cubicle workers. Then we'd be sitting pretty.


thinkprogress.org
 
2013-05-06 08:25:04 PM

JolobinSmokin: I've known about 10 ppl who have recently died swearing the hyper-inflation from the fed printing money is going to happen.

They all also thought the rapture would happen in their lifetimes.


And they've been shrieking about that continuously since January 20, 2009.
 
2013-05-06 08:32:09 PM

jjorsett: That's what's needed all right, 2.2 million more government cubicle workers. Then we'd be sitting pretty.


I've been sitting pretty riding to remote areas for half of today collecting river water for pesticide and chemical analysis. Then I got to spend the rest machining a part to hold an instrument for water quality analysis. Which such a spacious cubicle, I don't know why more people aren't interested in this line of work.
 
2013-05-06 08:41:58 PM

dumbobruni: jjorsett: That's what's needed all right, 2.2 million more government cubicle workers. Then we'd be sitting pretty.

[thinkprogress.org image 474x403]


www.shadowstats.com

l3.yimg.com
 
2013-05-06 09:13:07 PM

Lawyers With Nukes: dumbobruni: jjorsett: That's what's needed all right, 2.2 million more government cubicle workers. Then we'd be sitting pretty.

[thinkprogress.org image 474x403]

[www.shadowstats.com image 500x320]

[l3.yimg.com image 484x474]


That first graph basically indicts GW Bush.  Obama inherited a collapse in progress.
 
2013-05-06 09:24:04 PM
Austerity is the philosophy that says we should pee on people on fire because buckets of water are too expensive in this day and age.
 
2013-05-06 09:42:01 PM
And in turn you have the spreadsheet to thank for austerity. Spreadsheets: the easiest and fastest way to make mistakes when dealing with data.
 
2013-05-06 10:20:19 PM
Austerity never farking works, yet every time there's a financial crisis people in power insist we try it because it sounds like it should work if you don't think about it too hard and it's relatively painless for them.

Then after a few years of senseless suffering, the sheer weight of evidence persuades people to drop it until the next crisis, when the calls start again. It's fascinating to watch it get revived and killed over and over. I can see why Krugman calls it a "zombie idea".
 
2013-05-06 10:24:42 PM

JolobinSmokin: They all also thought the rapture would happen in their lifetimes.


Actually it did, they just didn't go.
 
2013-05-06 10:56:40 PM
The Huffington Post is starting to become almost indistinguishable from the Daily Mail, especially when the sidebar stories are almost all celebrity gossip bullshiat. Come on, if you're going to have somewhat relevant stories on your site, don't cheapen it by associating the articles with tabloid nonsense.
 
2013-05-06 11:04:00 PM

Lawyers With Nukes: dumbobruni: jjorsett: That's what's needed all right, 2.2 million more government cubicle workers. Then we'd be sitting pretty.

[thinkprogress.org image 474x403]

[www.shadowstats.com image 500x320]

[l3.yimg.com image 484x474]


www.quick-break.net
 
2013-05-07 12:15:05 AM

Lawyers With Nukes: dumbobruni: jjorsett: That's what's needed all right, 2.2 million more government cubicle workers. Then we'd be sitting pretty.

[thinkprogress.org image 474x403]

[www.shadowstats.com image 500x320]

[l3.yimg.com image 484x474]


Not sure why you are posting crap from Shadowstats.

The graph I posted shows that during the first 3 years of the Bush admin, job growth came entirely from expanding Federal payrolls, not private sector growth. if it wasn't for the government hires, we would have easily seen 9% (or higher) unemployment in 2002.
 
2013-05-07 12:15:08 AM

JolobinSmokin: Hyper-inflation!!!

I've known about 10 ppl who have recently died swearing the hyper-inflation from the fed printing money is going to happen.

They all also thought the rapture would happen in their lifetimes.


We could only hope that inflation starts to happen. Firms and individuals are sitting on mountains of cash and inflation would greatly encourage capital improvements, because inflation reduces the value of cash. The Fed has not done the economy any favoros by keeping interest rates criminally low.
 
2013-05-07 12:22:25 AM

dumbobruni: Lawyers With Nukes: dumbobruni: jjorsett: That's what's needed all right, 2.2 million more government cubicle workers. Then we'd be sitting pretty.

[thinkprogress.org image 474x403]

[www.shadowstats.com image 500x320]

[l3.yimg.com image 484x474]

Not sure why you are posting crap from Shadowstats.

The graph I posted shows that during the first 3 years of the Bush admin, job growth came entirely from expanding Federal public payrolls, not private sector growth. if it wasn't for the government hires, we would have easily seen 9% (or higher) unemployment in 2002.


fixed that

/wish Fark had an edit button
 
2013-05-07 12:24:09 AM
Austerity?  The US did what most men promised their wife/gf in regards to certain things.  Just the tip.  Now most of Europe... ya they did what we all do.
 
2013-05-07 08:05:31 AM
At this point, it's clear that we're caught in a deflationary cycle.

What needs to happen is a move to negative interest rates. Banks and large corporations have proven that they are more than willing to sit on vast sums of cash. That has to stop. The fed has to make it a losing proposition to warehouse money.

It's time to divide by zero!
 
2013-05-07 08:17:01 AM
All those state and local governments should just borrow more, right? Stockton, CA, Harrisburg, PA, and Central Falls, RI would have been in great shape if they just borrowed their way out of their troubles!

The solution to govt overspending is more overspending. There will never, ever be a comeuppance.
 
2013-05-07 08:34:48 AM

StrikitRich: Horseshiat.  A 2% cut is nothing with this spendthrift government.


we are nowhere close to Austerity.

The government is just about shutting down, screaming over single-percentage point cuts in the Rate of growth.not in actual raw dollars, but a percentage cut in the rate of growth.

JolobinSmokin: Hyper-inflation!!!


If you're a billionaire banker, foreign country or corporate empire and have access to the level of treasury securities that the government offers, then your money is protected from inflation.  If you are a regular schlub who buys things like food, gas, electricity, healthcare, college education and rent, look at the BLS CPI statistics.  you're seeing increases of 2-6%.

Good luck saving for retirement.
 
2013-05-07 09:55:43 AM

Debeo Summa Credo: The solution to govt overspending is more overspending.


Unemployment. We need a solution to unemployment.

Say it with me now: un-em-ploy-ment.

\if all you have is a teabag, everything looks like a big gub'mint
 
2013-05-07 10:06:10 AM

Wendy's Chili: Unemployment. We need a solution to unemployment.

Say it with me now: un-em-ploy-ment.


No. We need production and productivity.
100% employment is easy. we could do it tomorrow. The soviets had 100% employment. Their entire nation's manpower went into making weapons and works projects for the country.  When the weapons got to be obsolete, they mothballed them and started producing updated ones.  The whole country worked and nobody sat idle. Everyone had a job.

That grand experiment lasted about 65-70 years before it finally and spectacularly collapsed.
 
2013-05-07 10:10:49 AM

StrikitRich: Horseshiat.  A 2% cut is nothing with this spendthrift government.


zfacts.com
 
2013-05-07 10:50:54 AM

Wendy's Chili: Debeo Summa Credo: The solution to govt overspending is more overspending.

Unemployment. We need a solution to unemployment.

Say it with me now: un-em-ploy-ment.

\if all you have is a teabag, everything looks like a big gub'mint


There is this misperception among many that the 2006 economy was the baseline norm. The truth is that the economy in 2004-2007 was an artificial debt fueled boom. Individuals, financial institutions, and govts were over borrowing, fueling the economy but building up dangerous amounts of debt.

When individuals and the private sector inevitably deleveraged, the boom turned into recession.

The response should not be for government to overborrow so we can get back to the artificial prosperity of 2006. We're doing approximately the right things now, slowly reducing the general budget deficits that grew necessarily during the recession.

And state and local governments are already too far gone, to a large extent. They are cutting because they have to.
 
2013-05-07 11:09:45 AM

o5iiawah: Wendy's Chili: Unemployment. We need a solution to unemployment.

Say it with me now: un-em-ploy-ment.

No. We need production and productivity.


Productivity is at it's highest level ever. People need jobs if they're going to afford anything that's produced.

o5iiawah: 100% employment is easy. we could do it tomorrow. The soviets had 100% employment. Their entire nation's manpower went into making weapons and works projects for the country. When the weapons got to be obsolete, they mothballed them and started producing updated ones. The whole country worked and nobody sat idle. Everyone had a job.

That grand experiment lasted about 65-70 years before it finally and spectacularly collapsed.


You know, there was another grand experiment around the same time called the New Deal. It kicked the Soviets' asses and put our country on a path to prosperity until neo-liberals started hacking away at it.
 
2013-05-08 01:16:41 AM
Math, how does that work???
 
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