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 Keynes on Economic Stability

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PostSubject: Keynes on Economic Stability   Sun Apr 03, 2011 8:41 pm

John Maynard Keynes wrote:
There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic laws on the side of destruction, and does it in a manner which not one in a million is able to diagnose.

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Registration date : 2011-01-12

PostSubject: Re: Keynes on Economic Stability   Sun Apr 03, 2011 9:49 pm

Do you feel that we are headed for a major inflationary period?
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PostSubject: Re: Keynes on Economic Stability   Sun Apr 03, 2011 10:57 pm

When I was little, my aunt used to put a quarter in a cigarette machine and get a pack of cigarettes with a shiny new penny change inside the cellophane at the bottom.

When I was in junior high there was a model house out by the highway with a sign that said "This House on Your Lot for $29,999.00"

You tell me

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PostSubject: Re: Keynes on Economic Stability   Sun Apr 03, 2011 11:06 pm

Well, the cigarettes and housing would not be good examples of inflationary pressures.

The cigarette prices are higher simply because of taxation and other governmental restrictions.

House values are dramatically deflating, such that some homeowners are seeing their homes worth only 60 percent of their values a few years ago.
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PostSubject: Re: Keynes on Economic Stability   Mon Apr 04, 2011 10:36 pm

Then look at the cost of staples such as bread and milk etc...

Locally ove rthe past two years I've seen the same bread I always buy go from $1.96 a loaf to now $2.80. Produce has also jumped along with gas prices. Gas prices in particular are a driving force in pricing as nearly everything we buy has to be transported from somewhere else.

Another driving force over the past 20 or so years has been the increase in minimum wage from 4.35 an hour to now 7.25 an hour. Businesses that employ minimum wage earners, including such places as grocery stores, retailers and such have had to raise prices to compensate. Meanwhile the rest of the populations wages have remained relatively flat by comparison.
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PostSubject: Re: Keynes on Economic Stability   Mon Apr 04, 2011 11:12 pm

Right, I understand that.

Some folks, however, are predicting an upcoming period of significantly higher inflation (a la Jimmah Carter) due to the hyper-printing of money by the damned government. This is what has me worried.
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PostSubject: Re: Keynes on Economic Stability   Tue Apr 05, 2011 3:23 pm

Wouldn't surprise me if they did, considering that all our debts that I know of are in USD. Overprint and devalue the currency to pay them off. Of course the people get screwed but that's nothing new.
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