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Re: Snappy

By: killthecat in POPE | Recommend this post (0)
Wed, 13 Jun 12 7:23 PM | 60 view(s)
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Msg. 60905 of 65535
(This msg. is a reply to 60903 by Decomposed)

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DE:

You'll love this!

"But in 1966, 1969, and 1974, when the Federal Reserve appropriately tightened monetary policy and the economy stalled, politicians and the public were not happy, and the Fed caved in too early on the inflation fight. Compared to a 23 percent increase in the money supply that funded the prosperous 1950s, the Fed allowed money to expand 44 percent in the 1960s and 78 percent in the 1970s."


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The above is a reply to the following message:
Re: Snappy
By: Decomposed
in POPE
Wed, 13 Jun 12 7:19 PM
Msg. 60903 of 65535

re: "What was the inflation rate in 1974, 1975 and 1976 prior to Carter becoming President?"

Inflation is far worse these days than it ever was in the 1970s.

But you're probably wondering about price inflation, not true inflation. And PRICE inflation is impossible to measure. The only way to determine it would be to know the actual price, size and quality of EVERY item that's for sale at a specific instant. No one has ever had that kind of data.

All we can do if we do research is to tell you what the government claims price inflation to be. But that comes from an arbitrary sampling and formula. The formula is altered as convenient for politicians, making a joke out of a joke.

So looking up the numbers is pointless, imo. You have some interest, though. I suggest you do the research instead of asking us to do it.


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