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Thread: CNN Poll: GOP would bear the brunt of shutdown blame [W:176:468]

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    Re: CNN Poll: GOP would bear the brunt of shutdown blame [W:176:468]

    Quote Originally Posted by Mr.Nick View Post
    I recently had a good debate with my mother and other family members at a gathering a week or so ago.... My mother blames imports (given our excessive outsourcing) as a significant role for inflation.... That wasn't the only factor cited but the main factor... That is an interesting outlook, however I would accept that idea to play a roll, however it's more complicated than that. I believe the FED and the fact it costs more than a dollar to spend a dollar through the idea of stimulus plays a major role in this horrible economy.

    I found that idea rather interesting..
    Your'e right, inflation is extremely complex. For one, I'd say that It's not actually a measurable thing because you can't actually compare the market of today with past markets. Sure you can take a look at the cost of a loaf of bread today, and compare it to 30 years ago, but that doesn't just tell you how the value of money has changed. Differences in agriculture, logistics, production techniques all drive down costs. But things like increased health care costs for workers drive those costs back up. There are also differences in demand. For example, the healthfulness of white flour might serve to drive down demand.

    That said, I'm not sure how imports would serve to increase inflation in the US. For that to be true, you'd need to make the case that the US was inelastically dependant on exports such that increases in Chinese worker costs were not met with an equivalent reduction in demand.

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    Re: CNN Poll: GOP would bear the brunt of shutdown blame [W:176]

    Quote Originally Posted by Jack Hays View Post
    Dems pioneered that activity with their treatment of GWB.
    The GOP started it by demonizing Clinton, especially when they went ahead with that stupid impeachment. But, in the defense of both groups, neither Bush nor Clinton won a clean majority in their first term, but yet they governed like they had a mandate. I can see where that would P people off, on both sides.

    Obama swept McCain and won reelection by a significant number of votes and states. He should be getting a wee bit more love. Clinton too won reelection quite handily, destroying Dole. Bush, OTOH, squeaked by Kerry, winning only because he held Ohio.

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    Re: CNN Poll: GOP would bear the brunt of shutdown blame [W:176]

    Quote Originally Posted by calamity View Post
    The GOP started it by demonizing Clinton, especially when they went ahead with that stupid impeachment. But, in the defense of both groups, neither Bush nor Clinton won a clean majority in their first term, but yet they governed like they had a mandate. I can see where that would P people off, on both sides.

    Obama swept McCain and won reelection by a significant number of votes and states. He should be getting a wee bit more love.
    Fair enough, except BHO rammed through ACA on a party line vote. Political malpractice.
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

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    Re: CNN Poll: GOP would bear the brunt of shutdown blame [W:176]

    Quote Originally Posted by Jack Hays View Post
    Fair enough, except BHO rammed through ACA on a party line vote. Political malpractice.
    As well as using bribery and changing the tradition from 60% required to 50%.

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    Re: CNN Poll: GOP would bear the brunt of shutdown blame [W:176:468]

    Quote Originally Posted by Kushinator View Post
    It's more complicated than that, but that's the general idea.



    Didn't you read the link???!!!! How does a company deal with a fall in productivity? If their business is expanding, they increase the price of the product sold. If their business is contracting, they devise a new business plan/strategy.
    Yep, read it. But it's pretty simple math. Productivity = GDP / Hours. That means that GDP / Productivity = Hours. You're saying that inflation is an increase in the ratio of GDP to Productivity. So under that hypothesis, inflation is equivalent to an increase in the number of hours. (I think I said decrease before). That is clearly not the case. Microeconomic analysis doesn't work on macroeconomic issues because macroeconomics includes complex feedback.

    For example, your example is based on the false assumption that there are no other producers and there is inelastic demand. If a company has a fall in productivity, then they lose profit as they'll have to hire more workers to maintain the same supply. If all of the suppliers suffer a similar loss in productivity, then the Nash Equilibrium will shift, and supply, demand, and profit will reach a new equilibrium.

    According to wikipedia:
    Currently, the quantity theory of money is widely accepted as an accurate model of inflation in the long run. Consequently, there is now broad agreement among economists that in the long run, the inflation rate is essentially dependent on the growth rate of money supply relative to the growth of the economy. However, in the short and medium term inflation may be affected by supply and demand pressures in the economy, and influenced by the relative elasticity of wages, prices and interest rates.

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    Re: CNN Poll: GOP would bear the brunt of shutdown blame [W:176:468]

    Quote Originally Posted by Kushinator View Post
    If only you had any idea how wrong you are. Had the Federal government increased spending to levels necessary to supplement a most expansionary monetary policy initiative, we wouldn't have 7.3% unemployment.
    You are probably right. If we had left that six trillion in the private economy by now we would be back to around 4% unemployment. Instead we have cleverly build and placed a massive time bomb just below our feet...

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    Re: CNN Poll: GOP would bear the brunt of shutdown blame [W:176:468]

    Quote Originally Posted by Mithros View Post
    Yep, read it. But it's pretty simple math. Productivity = GDP / Hours. That means that GDP / Productivity = Hours. You're saying that inflation is an increase in the ratio of GDP to Productivity. So under that hypothesis, inflation is equivalent to an increase in the number of hours.
    Wow....

    Inflation is the result of growth in output exceeding growth in productivity. In the real world productivity and output are dynamic variables. Meaning, output can fall by 1%, but if productivity falls by 2%, there will be inflation. Or, output can increase by 5%, but productivity can stay stagnant, leading to inflation. Learn the difference between a function and an equation before using algebra as your basis for analysis.

    Inflation is entirely and everywhere a monetary phenomenon, in the long run (thanks Milton!). In the short run, it is determined exclusively by the dynamics of supply and demand.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: CNN Poll: GOP would bear the brunt of shutdown blame [W:176:468]

    Quote Originally Posted by Misterveritis View Post
    You are probably right. If we had left that six trillion in the private economy by now we would be back to around 4% unemployment. Instead we have cleverly build and placed a massive time bomb just below our feet...
    Do you understand why balancing the budget in 2009 would lead to depression? If not, i will explain it to you (which should be a fruitful exercise for those who are not informed on this subject).
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: CNN Poll: GOP would bear the brunt of shutdown blame [W:176:468]

    Quote Originally Posted by Anthony60 View Post
    Their job is to follow the Constitution, not keep the government open. Funny, you don't see the Senate & president's refusal to negotiate as not doing their jobs! Ironically, what you suggest is unconstitutional. God, the left is so messed up!
    Follow the Constitution? Where does it say that shutting down the govt. when you don't get what you want is a tactic?
    Last edited by iguanaman; 10-04-13 at 08:20 PM.

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    Re: CNN Poll: GOP would bear the brunt of shutdown blame [W:176:468]

    Quote Originally Posted by Kushinator View Post
    Do you understand why balancing the budget in 2009 would lead to depression? If not, i will explain it to you (which should be a fruitful exercise for those who are not informed on this subject).
    What are your thoughts on tariffs and excise taxes versus income based taxation?
    I don't often change my signature, but this was just too over the top to let anyone forget with what this country is up against...
    Quote Originally Posted by James D Hill View Post
    I am for gay marriage because it ticks off Jesus freaks and social conservatives. Gays are also good voters because the vote for my side so I fight next to them.

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