Originally posted by BlackCat
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Warren Buffet speaks common sense; alarms most Republicans
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Originally posted by gribbler View PostHe's not competing with Ben. You just aren't bothering to think about why an expansionary monetary policy would make prices go up.Try http://wordforge.net/index.php for discussion and debate.
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Originally posted by notyoueither View PostEvidence that incomes of at least a large number of 'poor' people increased greatly would help.
Unless you have an alternative explanation for why food prices rose (one beyond "um, QE, therefore!")? Do you think every farmer in the world conspired to charge more money?
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Originally posted by Jon Miller View PostAll the data I have seen show that the income of the lower ~40% has held constant over the last ~40 years.
JM(\__/)
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Originally posted by Oerdin View PostYes, the US has an expansionary monetary policy right now which does cause general inflation (in this case it is being correctly used to combat a general post bubble deflationary environment) but our inflation is specific to food and fuel where as just about everything else is experiencing deflation. Also food prices are at record levels all over the world independent of what happens in dollar denominated markets.
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Originally posted by gribbler View PostHe's not competing with Ben. You just aren't bothering to think about why an expansionary monetary policy would make prices go up.With or without religion, you would have good people doing good things and evil people doing evil things. But for good people to do evil things, that takes religion.
Steven Weinberg
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Originally posted by Jon Miller View PostOf course I am speaking of the US.
JM
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I am sorry, I misunderstood you, I didn't realize you were talking about poor in India/China/etc.
The rising wealth of the third world definitely increases the demand for food.
JMJon Miller-
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Originally posted by Kuciwalker View PostThe price of food rose and it doesn't appear that any natural disasters substantially reduced supply.
There have been a lot of big natural disasters over and above bad government policy (like the ethanol debacle).Try http://wordforge.net/index.php for discussion and debate.
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Originally posted by gribbler View PostKuciwalker was responding to a criticism of the Fed that its policy would make the price of food go up, and he pointed out that the same policy also makes wages go up so it doesn't make it harder for the poor to buy food. Bad weather and other external factors do make it harder, of course.
Has the Fed's policy inflated markets, including commodities? My impression from reading is that it has (I could be mistaken).
Kucis might say that the problem is that not much of it is making it through to the rest of the economy. Or, that there has not been enough of it to make businesses and individuals behave as if deflation were not imminent.(\__/)
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Originally posted by Kuciwalker View PostThat said, Congress could certainly control rising food prices at home by prohibiting or taxing exports, since we are a net exporter of foodTry http://wordforge.net/index.php for discussion and debate.
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