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TIMB0B
3/5/2011, 02:51 PM
This is ONE of many warnings...

"Since the federal government uses inflation -- the creation of new money -- to pay its bills, we can look on it as a tax, a tax we all pay in higher prices. But inflation is an exceedingly unfair and regressive tax. Not all sectors of the economy suffer equally. In fact, some benefit, since inflation results in a transfer of wealth from savers and workers to speculators, bureaucrats, and the special interests favored by government. Inflation also breeds mistrust. Its economic effects are so destructive, because it leads -- as it has in our country -- to rising prices and unemployment. It misdirects the economy and prevents accurate assessment of future business conditions, thus contributing to bankruptcies of cities and corporations, like New York City, Cleveland, and Chrysler.

At first, inflation does 'stimulate' the economy, in the same way a dose of heroin stimulates a drug addict. It feels great for a while, but there is a price to be paid. Eventually, the economic conditions created by inflation lead to social discontent and anger, as classes, races, and regions are set against one another. Everybody grows irritable and uncertain about the future, as they find it harder and harder to make ends meet. Plans become difficult to make, and everyone directs his efforts toward day-to-day survival, rather than the long-term efforts that build an economy and a society."

"Inflation is theft. People who worked hard and saved, the retired, and others on fixed incomes, are robbed, just as surely as if an armed criminal mugged them on the street. The very people who should be rewarded for their effort in caring for themselves are the ones hurt the most."

"The Founding Fathers, after their experience with inflation during the Revolution, said that real money was gold and silver. A dollar was about 1/20th of an ounce of gold. But we have had so much inflation that today's dollar -- which is only a piece of paper backed by nothing -- is worth less than 1/400th of an ounce of gold. To end inflation, we need to stop deficit spending and have a dollar that is tied to a specific commodity, like gold or silver ... Let us pull the plug on the printing presses, stop the destruction of our money and our country through inflation, and encourage the healthy economic growth we need." - Dr. Ron Paul, November 16 1979

'Ron Paul Told Us So' - The Economic Crisis (http://valuefreedom.blogspot.com/2008/05/ron-paul-told-us-so-economics.html#Debasement)

"This page consists of excerpts from a selection of Ron Paul's speeches and columns on economic matters, and a few highlights are bolded below. Throughout his time in Congress (1976-1977, 1979-1985, 1996-present), Dr. Paul tirelessly forewarned of the dire consequences of the Federal Reserve system, fiat currency, deficit spending, corporate statism, and central planning -- consequences that are now besetting the American people.

Dr. Paul primarily attributes the prescience of his work to the scholarship of the 'Austrian School', and he humbly insists that he's 'just the messenger.' While his acknowledgment of intellectual influences is certainly commendable, Dr. Paul himself deserves great credit for his patient, persistent, and often thankless efforts to inform others over the years. This page is intended as a testament to his farsightedness and perseverance, and as a convenient resource for anyone working on projects to advance the cause of liberty and the 'Ron Paul Revolution." - Value Freedom

http://valuefreedom.blogspot.com/2008/05/ron-paul-told-us-so-economics.html#Debasement

OUthunder
3/5/2011, 02:57 PM
:pop:

MR2-Sooner86
3/5/2011, 03:05 PM
:pop::pop:

Okla-homey
3/5/2011, 03:08 PM
:pop: :pop: :pop:

TIMB0B
3/5/2011, 03:10 PM
Here's another gem!

Peter Schiff Fact Checks PolitiFact Writer On The Fed and Food Inflation...

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TIMB0B
3/5/2011, 03:14 PM
This is from 2008...

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"First they ignore you, then they ridicule you, then they fight you, then you win."
- Mahatma Gandhi

SoonerStormchaser
3/5/2011, 03:50 PM
:pop::pop::pop::pop:

ictsooner7
3/5/2011, 06:38 PM
There is always inflation when the economy is recovering. This is because demand goes up, from capitalistic economic activity, not the government. Put your aluminum foil hat back on.

Sooner5030
3/5/2011, 06:46 PM
There is always inflation when the economy is recovering.

How long is "always" to you? Sure.....GDP growth can create upward pressure on prices, but it is also driven by the fact that you have 115% of prior year's dollars chasing 105% of prior year's product.

TIMB0B
3/5/2011, 07:00 PM
Put your aluminum foil hat back on.

Sure. And you go buried your head back in the sand.

TIMB0B
3/5/2011, 07:02 PM
There is always inflation when the economy is recovering. This is because demand goes up, from capitalistic economic activity, not the government.

If we had true capitalism (without government intervention) we wouldn't be printing more dollars, and the prices would be much much lower than today. Inflation is not a natural occurrence. It happens when there's an increase in overall money supply.

pphilfran
3/5/2011, 07:31 PM
There is always inflation when the economy is recovering. This is because demand goes up, from capitalistic economic activity, not the government. Put your aluminum foil hat back on.

Not true...it depends on what we are recovering from...

Early 1990's recession...July 1990-March 1991

Prior to the recession the prime rate was 10-11%...during the recession the Prime Rate declined to the 8-9% range..by March of 1992 the Prime dropped to 6.5%...

pphilfran
3/5/2011, 07:36 PM
Inflation during the same time frame...

Prior 6%

During 5.5%

March 1992 3.19%

SanJoaquinSooner
3/5/2011, 09:40 PM
Dr. Paul tirelessly forewarned of the dire consequences of the Federal Reserve system

It was the Paul Volcher, Chair of the Federal Reserve, who broke the back of inflation of the 70s. And because of him and the Fed and the expansion of free markets, inflation has remained remarkably dormant for the last 30 years. I can recall back then when certificates of deposit paid 15% interest and 30-year mortagages had interest rates well over 10%.

Ron Paul was hardly a visionary in 1979. We had double digit inflation in 79.


YEAR JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVE
1987 1.46% 2.10% 3.03% 3.78% 3.86% 3.65% 3.93% 4.28% 4.36% 4.53% 4.53% 4.43% 3.66%
1986 3.89% 3.11% 2.26% 1.59% 1.49% 1.77% 1.58% 1.57% 1.75% 1.47% 1.28% 1.10% 1.91%
1985 3.53% 3.52% 3.70% 3.69% 3.77% 3.76% 3.55% 3.35% 3.14% 3.23% 3.51% 3.80% 3.55%
1984 4.19% 4.60% 4.80% 4.56% 4.23% 4.22% 4.20% 4.29% 4.27% 4.26% 4.05% 3.95% 4.30%
1983 3.71% 3.49% 3.60% 3.90% 3.55% 2.58% 2.46% 2.56% 2.86% 2.85% 3.27% 3.79% 3.22%
1982 8.39% 7.62% 6.78% 6.51% 6.68% 7.06% 6.44% 5.85% 5.04% 5.14% 4.59% 3.83% 6.16%
1981 11.83% 11.41% 10.49% 10.00% 9.78% 9.55% 10.76% 10.80% 10.95% 10.14% 9.59% 8.92% 10.35%
1980 13.91% 14.18% 14.76% 14.73% 14.41% 14.38% 13.13% 12.87% 12.60% 12.77% 12.65% 12.52% 13.58%
1979 9.28% 9.86% 10.09% 10.49% 10.85% 10.89% 11.26% 11.82% 12.18% 12.07% 12.61% 13.29% 11.22%
1978 6.84% 6.43% 6.55% 6.50% 6.97% 7.41% 7.70% 7.84% 8.31% 8.93% 8.89% 9.02% 7.62%
1977 5.22% 5.91% 6.44% 6.95% 6.73% 6.87% 6.83% 6.62% 6.60% 6.39% 6.72% 6.70% 6.50%
1976 6.72% 6.29% 6.07% 6.05% 6.20% 5.97% 5.35% 5.71% 5.49% 5.46% 4.88% 4.86% 5.75%

sheepdogs
3/5/2011, 09:53 PM
Not sure you could find an example of hyperinflation during times of prosperity.

Blue
3/5/2011, 09:59 PM
There is always inflation when the economy is recovering. This is because demand goes up, from capitalistic economic activity, not the government. Put your aluminum foil hat back on.

Ya hear that people? You are a tinfoil hat wearing kook these days if you believe in sound monetary policy and don't blindly lick the twat of the Federal Reserve.

Ya hear that sound ict? That's the paper in your pocket being ripped in half.

yermom
3/5/2011, 10:56 PM
inflation only sucks if you have savings

who has savings? :D

StoopTroup
3/5/2011, 11:03 PM
I still think the reason we have so many problems is that we got some bad PI.

Damn you 3.14........

MamaMia
3/5/2011, 11:14 PM
inflation only sucks if you have savings

who has savings? :D

My 401 K is now a 201 F. :(

TIMB0B
3/6/2011, 01:58 PM
It was the Paul Volcher, Chair of the Federal Reserve, who broke the back of inflation of the 70s. And because of him and the Fed and the expansion of free markets, inflation has remained remarkably dormant for the last 30 years. I can recall back then when certificates of deposit paid 15% interest and 30-year mortagages had interest rates well over 10%.

Ron Paul was hardly a visionary in 1979. We had double digit inflation in 79.


That's proof that the Fed manipulates the market. They do not let the free market regulate itself. It's all bull****.

Yeah, we had double digit inflation in 79, so why do you think Ron Paul made that speech to congress in 1979? To address the double digit inflation.

MR2-Sooner86
3/6/2011, 02:08 PM
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