tag:blogger.com,1999:blog-3758330678390419129.post2575993445969643018..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: The Ultimate Totally Over-the-Top Paul Krugman Attack on Peter SchiffRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger57125tag:blogger.com,1999:blog-3758330678390419129.post-89716163005462145132014-01-10T23:24:38.502-05:002014-01-10T23:24:38.502-05:00- Other news reports on drug cartels and Mexico in...- Other news reports on drug cartels and Mexico in 2010 included a raid in South <br />America where a totally submersible submarine, to be used for drug smuggling, was found under construction in the jungle, <br />the murder of a U. The patient should keep in mind that certain health conditions and other medications may also cause other adverse reactions <br />or increase the severity of the Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-514456295310795262013-06-14T13:12:38.503-04:002013-06-14T13:12:38.503-04:00I enjoy the NYT for the funny page. Page 1.I enjoy the NYT for the funny page. Page 1.John Robertshttps://www.blogger.com/profile/14160555332138668525noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-14497578293758890212012-12-09T22:17:09.049-05:002012-12-09T22:17:09.049-05:00Krugman did not say Schiff didn't call the hou...Krugman did not say Schiff didn't call the housing bubble. He said Schiff didn't get it all right. And Peter wasn't right about everything. He didn't get decoupling, Hyperinflation, he overestimated the implications of the S$P downgrade... He has been wrong so many times since the crash. Krugman's statement stands correct. 'Schiff didn't really get it all right'Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-88669975806099719162012-12-01T16:26:27.332-05:002012-12-01T16:26:27.332-05:00I get a kick out of the Schiff haters. He talks up...I get a kick out of the Schiff haters. He talks up Ron Paul constantly as the best option. He's very clear if you listen very often that he has problems with Rand and Gary.<br /><br />Hell, I considered voting Johnson (I wrote in Paul). Schiff "supported" him the same way I "supported" him. I suspected that he was about 20% better than the alternatives and that was ALMOST D. Lawless Hardwarehttps://www.blogger.com/profile/10416599643576620796noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-50275025138237306092012-12-01T15:59:34.893-05:002012-12-01T15:59:34.893-05:00"No consumer cares about increases in the mon..."No consumer cares about increases in the money supply UNLESS IT AFFECTS CONSUMER PRICES. I don't care what "price inflation" otherwise would have been."<br /><br />It does affect consumer prices. They are all higher than they otherwise would have been.<br /><br />Read this again to yourself. You don't care that steaks at the grocery store cost twice as much as they D. Lawless Hardwarehttps://www.blogger.com/profile/10416599643576620796noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-73616409622616327012012-12-01T15:01:03.295-05:002012-12-01T15:01:03.295-05:00Your last paragraph...
"No consumer cares ab...Your last paragraph...<br /><br />"No consumer cares about increases in the money supply unless it affects consumer prices. I don't care what "price inflation" otherwise would have been"<br /><br />Increases in the money supply DO AFFECT consumer prices. Everything costs more than it would have. You are telling me that you don't care that you are paying twice what you D. Lawless Hardwarehttps://www.blogger.com/profile/10416599643576620796noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-34397322373016459392012-12-01T14:56:47.101-05:002012-12-01T14:56:47.101-05:00The CPI, like the unemployment metric, has been ch...The CPI, like the unemployment metric, has been changed over time. It is a completely different metric than it was in the 1970s. It is not difficult to keep and index on prices low if you keep taking out the very factors that rise in price. Housing and tuition fees were excluded, which of course has a significant impact on the index. And energy is certainly not included in the CPI.<br /><br />As Kajhttps://www.blogger.com/profile/12556740918943104168noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-24328592433605725852012-11-30T16:51:21.083-05:002012-11-30T16:51:21.083-05:00I'm the author of the original post addressing...I'm the author of the original post addressing the replies.<br /><br />To all the people who state the Federal Reserve (not the "FED", if you need to abbreviate write Fed) ignores food and energy. That's just absolutely false. Their target is for a 2% annual increase of the PCE Price Index, all of it, including food and energy. It's amazing that the people here are so Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-17504713713979178432012-11-30T03:34:26.212-05:002012-11-30T03:34:26.212-05:00Haha, very funny...Haha, very funny...VindXIIInoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-5676399456113142952012-11-30T00:54:23.097-05:002012-11-30T00:54:23.097-05:00Robert, Schiff supports Rand Paul AND supported Ga...Robert, Schiff supports Rand Paul AND supported Gary Johnson in the last election! He is clearly part of the establishment and NOT an ally to libertarians. If anything our greater ally of the two is Paul Krugman for sticking it to this phony establishment lackey!Davehttps://www.blogger.com/profile/10579799109070553474noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-30258006092209381572012-11-29T20:05:16.078-05:002012-11-29T20:05:16.078-05:00bravo!bravo!Anonymoushttps://www.blogger.com/profile/10527277260580487166noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-41633519928082725302012-11-29T16:26:30.382-05:002012-11-29T16:26:30.382-05:00Your demand to confront "Austrian models"...Your demand to confront "Austrian models" is absurd. The Austrians don't go around building models and algos/equations to 'prove' some contrived phenomenon in the world of human action.<br /><br />It's not possible.<br /><br />Also, your understanding of inflation is rather limited. Any expansion of the money supply is considered inflation by the Austrian school. You areAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-76078432022654109032012-11-29T16:17:47.591-05:002012-11-29T16:17:47.591-05:00The commerical banks have parked their monetary in...The commerical banks have parked their monetary injections with the Fed, for something like 2% gains. They are being subsidized so they do not make heavy loans. If they begin to do so, then hyperinflation is far more likely. <br /><br />Runaway inflation/hyperinflation cannot be timed because it is based on the human decision making of powerful individuals (who should not have this power in the Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-10374824371055697662012-11-29T16:09:21.026-05:002012-11-29T16:09:21.026-05:00Awesome.Awesome.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-79701227662546729992012-11-29T16:09:08.910-05:002012-11-29T16:09:08.910-05:00That is precisely how the Fed controls the monetar...That is precisely how the Fed controls the monetary base -- through reserves. Schiff (I imagine) knows this.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-15171149051257992162012-11-29T16:03:30.535-05:002012-11-29T16:03:30.535-05:00the whole "Peter Schiff was right" thing...the whole "Peter Schiff was right" thing is ALL ABOUT THE HOUSING BUBBLE you numbskull. "Peter Schiff was right" had nothing to do about inflation. Holy shit you are pathetic trying to defend Krugman on this one. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-44274246803187705432012-11-29T16:00:50.277-05:002012-11-29T16:00:50.277-05:00The entire post is a discussion on inflation. Sch...The entire post is a discussion on inflation. Schiff's hyperinflation prediction was flawed then, as Krugman knew full well, and it is demonstrably flawed now.<br /> <br />Schiff's runaway inflation predictions began in 2008 and the evidence of this hyperinflation should have begun showing itself by 2009 (and certainly by the end of 2012). I think krugman's reference to 2009 should Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-69527137782568316252012-11-29T15:55:53.306-05:002012-11-29T15:55:53.306-05:00The Fed has been able to triple the money base bec...The Fed has been able to triple the money base because much of that money has ended up in excess reserves. I'm not sure how this would reflect an 'inherent failure' in Austrian theory (which is what I assume you mean by 'model'), rather than a failure to forsee a certain historial development.Sea Cucumbernoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-72465761600124673342012-11-29T15:42:18.506-05:002012-11-29T15:42:18.506-05:00That's because he is a sneak, so people like y...That's because he is a sneak, so people like you can make comments like this. His reference is to 2009, which is when the Schiff video on his housing prediction was posted. Krugman knew fill well what he was doing by referencing Schiff's housing video and not using the word housing: He was being dishonest.Banaceknoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-69305148045242862922012-11-29T15:37:09.500-05:002012-11-29T15:37:09.500-05:00There are exactly zero references to the housing m...There are exactly zero references to the housing market prediction in krugman's piece.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-26182882810198384002012-11-29T15:30:12.171-05:002012-11-29T15:30:12.171-05:00Yahtzee!Yahtzee!Stephennoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-43372684412141834402012-11-29T15:12:50.514-05:002012-11-29T15:12:50.514-05:00This is where the confusion always arises and you ...This is where the confusion always arises and you can sniff out someone that isn't familiar with the Austrian point of view very easily...<br /><br />Inflation is an increase in the money supply. Inflation causes prices to be higher than they OTHERWISE WOULD HAVE BEEN. The current price level is a reflection of a thousand things, one of which is the amount of dollars in circulation. D. Lawless Hardwarehttps://www.blogger.com/profile/10416599643576620796noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-18803586966556283982012-11-29T14:55:34.370-05:002012-11-29T14:55:34.370-05:00your reading comprehension is terrible. Krugman sa...your reading comprehension is terrible. Krugman said "It wasn’t really true even then..." meaning he did not get the housing bubble correct. Sheesh. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-502567935373829762012-11-29T14:44:16.804-05:002012-11-29T14:44:16.804-05:00Krugman's post did not say anything about Schi...Krugman's post did not say anything about Schiff's prediction on the housing market. <br /><br />The point of his post was to question whether a prediction about the onset of hyperinflation that has gone terribly wrong would cause Austrian economists to question whatever model or methodology they use to make such faulty predictions. <br /><br />So the real question is to the Austrian Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-12699131552469999222012-11-29T14:19:01.530-05:002012-11-29T14:19:01.530-05:00Are you seriously saying there has been no price i...Are you seriously saying there has been no price inflation?<br /><br />Food is an obvious place to see it but there are other places where it is more discrete. I spot examples ofmanufacturers designing around the challenge of rising commodity cost almost everyday. Look carefully at the things you buy and compare it with the same items you were buying 5-10 years ago. This isn't just profit Anonymousnoreply@blogger.com