[Rhodes22-list] Economics - More Good News

[Brad Haslett]

Stan,

Uh Oh!  I smell a discussion of the CPI (consumer price index) coming.  If
you buy raw materials that we compete for with China, like steel, you know
that prices are headed higher.  Eventually that filters down to the
consumer.  We should be able to milk this thread for at least 100 entries.
I'm headed out the door to "kill some rats" myself.  Since we're both busy,
let's assign this one to Dave.

Brad

On 7/16/07, stan <stan at rhodes22.com> wrote:
>
> Brad, like you I am always on the run but had to respond - we are told by
> the artists that inflation is low -
> that is the real  BS - it is not - believe someone who is in the real
> world.
>
> ss
>
> ----- Original Message -----
> From: "Brad Haslett" <flybrad at gmail.com>
> To: "The Rhodes 22 mail list" <rhodes22-list at rhodes22.org>
> Sent: Monday, July 16, 2007 6:21 AM
> Subject: Re: [Rhodes22-list] Economics - More Good News
>
>
> > Stan,
> >
> > Here is one of the simplest explanations of deficit vs debt on the net.
> >
> > http://www.citizenjoe.org/node/270
> >
> > Looking at raw numbers unadjusted for inflation is meaningless.  Trying
> to
> > pin down which Presidential administration was responsible for what is
> > difficult since you have to look at the make-up and actions of the
> > Congress
> > in power at the same time.  Anyone can cherry-pick the data and spin
> their
> > own BS.  The meaningful number is debt as a percentage of GNP.  Ours is
> > now
> > around 65%, high for us but in line with Germany and France and well
> below
> > Japan.  Where things get scary is looking down the road.  The annual
> > budget
> > is composed of two parts, mandatory spending and discretionary spending.
> > Fighting a war, rebuilding from Katrina, etc. is discretionary spending.
> > Mandatory spending is long term social programs like medicare and social
> > security.  Those of us like myself, small government conservatives,
> cringe
> > when the folks we send to DC increase mandatory spending (think Bush
> 43's
> > enhancements to medicare) knowing that these obligations are headed for
> a
> > demographic peak down the road.  We don't like fighting expensive wars
> > anymore than anyone else.  That's why I think we should declare victory
> on
> > the "war on poverty" and move on. Solving the discretionary spending
> issue
> > is incredibly simple.  Give the President line item veto authority and
> > establish term limits for Congress.
> >
> > Dave,
> >
> > The prime result of 'printing' money is inflation.  Inflation is low.
> > Show
> > me the money!
> >
> > Brad
> >
> >
> > On 7/15/07, DCLewis1 at aol.com <DCLewis1 at aol.com> wrote:
> >>
> >>
> >> Stan,
> >>
> >> I'm sure your daughter knows this stuff better than any of  us, but
> >>
> >> National debt/deficit - synonyms;  see
> >> _http://www.investorwords.com/3201/National_Deficit.html_ (
> >> http://www.investorwords.com/3201/National_Deficit.html)
> >> although I've seen some literature that would make me think the deficit
> >> is
> >> the difference between revenue and expenditures, and debt is the
> portion
> >> of
> >> that  deficit that's made up by borrowing - another portion of the
> >> deficit
> >> can be
> >> made  up, for example, by just printing $.
> >>
> >> Comparison figures for the same years for the national debt and
> deficit:
> >> I
> >> think Brad posted the PROJECTED INCREASE to the national debt, not the
> >> national debt.  The national debt is many trillions of dollars.
> >> Additionally, I
> >> don't think his numbers represent intergovernmental borrowing  (i.e.
> >> borrowing
> >> from the Soc Sec funds) which are substantial for each  year. For
> >> quantitative
> >> chronological info re the national debt  see:
> >>
> >>
> _http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm_
> >> (
> >>
> http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm
> >> )
> >>
> >> Dave
> >>
> >>
> >>
> >> ************************************** Get a sneak peak of the all-new
> >> AOL
> >> at
> >> http://discover.aol.com/memed/aolcom30tour
> >> __________________________________________________
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> >>
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