To be fair, CPI for california is around 200. California's living cost is about 2x of the national average? Wow, I didn't know california is that expensive.
Yes but housing has gone up like 300% recently and yet california CPI hasnt budged that much. Give me a break
ron has real traction that continues to surprise me in conversations with boomers, and i think he's exactly right. he's not as popular yet as his views are the monetary establishment is a perversion of traditional american ideals
This is just wrong. Purchasing power determines exchange rates, if domestically produced goods were, on a relative basis, cheaper than the same foreign good then this difference would be arbitraged away by foreign currency holders. The result would be that domestic goods would be bid up and Americans would be priced out of the market. This also goes to show that Bernanke is a nothing but keynesian hack who doesn't understand elementary economics, but then again his job is to give intellectual cover for whatever the private bankers, who own the fed, want to do.
What are you smoking Dragon? I live in the ONLY area in CA that has NOT gone down this year badly this year, the Bay Area. SoCal down, Central CA down, Northern CA (above Bay area) down. Even the Bay area has seen a decrease inthe last 6 months. Stop reading the old news and wake up. And we do not represent 50% of Americas Real Estate, FYI. Get a map and stop being a CA centalist. The rest of this country has the best people, we bring in the morons. Only so many foreigners wil continue to buy here... http://www.sfgate.com/cgi-bin/artic...5KT090D.DTL&hw=real+estate+drop&sn=009&sc=172 http://www.sfgate.com/cgi-bin/artic...0BSS6UH.DTL&hw=real+estate+drop&sn=011&sc=164 http://www.sfgate.com/cgi-bin/artic...VPSEMVQ.DTL&hw=real+estate+drop&sn=020&sc=129
I would agree. I think HeliBen, unlike Elmer, truly bellieves his own shit, i.e., at the slightest whiff of deflation, try inflation, and if that doesn't work, go hyperinflation.
Recession is not necessarily bad. It wipes out speculation, mal-investment, stupid investments, and a bunch of other econonmic pathologies.