Rothbard on Mises: Depression Not Inevitable, Result of Central Banks

Housing prices? CPI, and unemployment?

How does that measure growth?

And actual productivity is not part of your measurement??? LOL!!

 

There historically hasn't been an economic recovery without housing recovering first, the consumer price index indicates price inflation, or deflation, and unemployment indicates job growth. The economy is consumer based.

All three of these indicators show no growth in the economy.

 

good, then we can quit the big spending, ZIRP and monetization.

 

no, i'm no statist and i'm not a bootlicking lackey, that almost always cites misinformation from one single propaganda source

my posts reference diverse, nonpartisan info sources

 

So if the economy is consumer based than why isn't consumption part of your measurement for growth?

And explain to me mathematically how these three indicators indicate we are in a depression. Thanks!

 

Well, housing prices are somewhat stabilized and new home construction has picked up. Private sector permanent employment is rising though unemployment figures do not reflect this since it is being mostly offset by reductions in the public sector. The CPI is rising which implies that there is some inflationary pressures in the economy.

These things are not indicators of recession or depression but rather strong signals that the economy is recovering and beginning to enter a new growth phase.

 

having just clocked the lowest prices since 2002

our old growth phase was based on consumerism with the funds coming from home equity.
Seems something is missing now.

 

the doom and gloom band wagon is attempting to obstruct recovery

 

how could they obstruct it if they wanted too ?

Perhaps the lamest thing you have ever said.

 

It could be claimed that North Dakota has the lowest unemployment rate in the Union, simply because it has its own central bank.

In my opinion, California could use a central bank of its own.

 

by not hiring new employees

 

no, there are documented cases and expressed schemes that affirm my assertion

 

Yet you wont post them. <<< MODERATOR EDIT: OFF TOPIC/INSULT >>>

 

<<< MODERATOR EDIT: OFF TOPIC/INSULT >>>

Georgia Businessman Refuses to Hire Until Obama Is Fired

A Georgia businessman has an ultimatum for America: Fire President Obama, or he will not hire any more workers.

Bill Looman, owner of U.S. Cranes LLC, said he is fed up with the bad economy and D.C. politicians who do nothing to solve the problem. So until there is a change of leadership, his company trucks will bear the message: &#8220;New Company Policy: We Are Not Hiring Until Obama Is Gone.&#8221;

http://abcnews.go.com/blogs/politics/2011/11/georgia-businessman-refuses-to-hire-until-obama-is-fired/




Rush Limbaugh: "I hope Obama fails"

By Razril - Posted on 20 January 2009

"...but I've been listening to Barack Obama for a year-and-a-half. I know what his politics are. I know what his plans are, as he has stated them. I don't want them to succeed."

So apparently someone asked him to give a 400-word answer on what his hopes for the Obama presidency are. He only gave 4 words as a reply: "I hope he fails."

"Okay, I'll send you a response, but I don't need 400 words, I need four: I hope he fails." (interruption) What are you laughing at? See, here's the point. Everybody thinks it's outrageous to say. Look, even my staff, "Oh, you can't do that." Why not? Why is it any different, what's new, what is unfair about my saying I hope liberalism fails? Liberalism is our problem. Liberalism is what's gotten us dangerously close to the precipice here. Why do I want more of it? I don't care what the Drive-By story is. I would be honored if the Drive-By Media headlined me all day long: "Limbaugh: I Hope Obama Fails." Somebody's gotta say it.

What? This is totally outrageous. If Obama fails, America fails. Not liberalism, or anything else in his convoluted brain. So it's okay for jobs to be lost, lives to be sacrificed, and security to be compromised...as long as Obama fails and he is proven right?


http://www.republicansforobama.org/?q=node/5263

 

From your links...

&#8220;The message that I tried to put in there is that I cannot afford it,&#8221; Looman told ABC News. &#8220;I just cannot afford to hire anybody right now.&#8221;

&#8217;You got nerve, so you got my business.&#8217; I may have to hire after all.&#8221;

&#8220;They gave me the typical interview to see if I was a threat,&#8221; Looman said. &#8220;We actually had a good meeting and when they left, they were under the impression that they wasted their time.&#8221;

Your post is typical... epic fail.

<<< MODERATOR EDIT: INSULT >>>

 

I posted them. <<< MODERATOR EDIT: OFF TOPIC/INSULT >>>

despite his rhetoric, he made it clear that he wasn't hiring because of presidential politics, not economics

of course you're going to deny obstruction, but it's obviously present

 

Ya and once the culprit too all this mess that's rite I said it.

The culprit "The Fed" and once he raises interest rate
instead of artifically suppressing them

Say Adios ,vaya con dios....too this fake housing market rise

 

Fake recovery....this hole thing is a farce

Once another glick comes along from these FED INDUCED CYCLES

IT WILL ALL COLLAPSE LIKE A HOUSE OF CARDS

 

Your source proved no such thing.

Of course it's not, because the demand for gold in a fiat economy doesn't exist like it would if we had a gold standard.

Nobody's talking about them except you.

 

demand would still fluctuate and relatively small changes in demand produce relatively large changes in value

you don't seem to grasp the argument

The price of gold is quite volatile, sometimes shooting upward one period and plummeting downward the next. The main sources of these fluctuations are shifts in demand and highly inelastic supply. Gold production is a costly and time-consuming process of exploration, mining, and refining. Moreover, the physical availability of gold is highly limited. For both reasons, increases in gold prices do not elicit substantial increases in quantity supplied. Conversely, gold mining is costly to shut down and existing gold bars are expensive to store. Price decreases therefore do not produce large drops in the quantity of gold supplied. In short, the supply of gold is inelastic.


http://highered.mcgraw-hill.com/sites/dl/free/0073375691/627557/Chapter06.pdf

 

So what does tht post prove nothing like usual

Who cares if gold is a finite substance

And if its so terrible, then why are china,india,roosha starting here lately
too hord it like its. Freee dried food

 

it demonstrates why gold isn't a workable national currency

the point is that it's volatile

some of it is cultural, it's a monetary reserve and gold is used in international trade, the countries you mention have only a pittance compared to the united states' reserves



Who Holds The Largest Gold Reserves?

September 06, 2011

Even though gold is no longer used to back currencies like the dollar, it is still stockpiled by countries around the world. Since the price of gold has fluctuated dramatically, the holdings are expressed in metric tons (or tonne = 1000 kg) as documented by the World Gold Council in August 2011. One U.S. ton is approximately 0.9 tonnes. Here's a look at who holds the largest gold reserves and the amount of holdings.

United States - 8,133.5
While the U.S. permanently abandoned the gold standard in 1971, it has the largest holdings of any country by a wide margin. While most of the gold is held at Fort Knox in Kentucky, gold is also held by the U.S. Mints in Philadelphia and Denver and several other locations.

Germany - 3,401.0
Germany's central bank, the Deutsche Bundesbank in Frankfurt, is the manager of the country's reserves. However, reports have surfaced that the bulk of Germany's gold is in the physical custody of the New York Federal Reserve. Two years ago, international journalist, Max Keiser received an acknowledgment of these holdings in the U.S. directly from the Bundesbank. (The policies of these banks affect the currency market like nothing else.

International Monetary Fund (IMF) - 2,846.7
The IMF overseas the economic activity of its 187 member countries around the globe. While its gold policies have changed over time, the reserves are intended to aid national economies and stabilize international markets. Depending on market conditions, it will buy or sell portions of its reserves in support of specific economic initiatives.

Italy - 2,451.8
Italy's reserves are held and managed by the Banca D'Italia. Italy is one of the PIIGS nations (along with Portugal, Ireland, Greece and Spain), all of which are suffering financial woes that threaten the entire eurozone. Parliament approved austerity measures in exchange for financial assistance, but the country is also embroiled in a political crisis that centers on Prime Minister Silvio Berlusconi. In addition to being charged with paying for sex with a minor, his government is under investigation for influence peddling and corruption.

France - 2,435.4
The Banque de France is the central depository for France's gold reserves.

After World War II, the Bretton Woods Agreement established a standard that pegged the dollar at the gold exchange rate of $35 (USD) per ounce. Subsequently, President Charles de Gaulle reduced French dollar reserves by exchanging them for gold from Fort Knox. As a result of this action and other economic considerations, President Richard Nixon ended the convertibility of dollars to gold in 1971.

China - 1,054.1
While the world's most populous country is sixth on the list of total holdings, gold accounts for only 1.6% of China's foreign reserves. It is the largest foreign holder of U.S. Treasuries with a total investment of $1.166 trillion as of June 30, 2011.

China is the world's largest producer of gold and can buy gold from its own mines without reporting those transactions publicly. It has reasons to buy gold off the open market since open market transactions would push the price even higher and devalue its U.S. Treasury holdings.

The Wall Street Journal has reported that China dramatically increased its gold purchases in response to inflation fears. Because of possible stealth transactions, China's total gold holdings and the prices it pays are uncertain.

Switzerland - 1,040.1
Switzerland's seventh place rank on this list is notable considering its economy is the 38th largest and its population is the 95th largest in the world.


Russia - 775.2
Russia's gold reserves are in the custody of the Central Bank of the Russian Federation. The country has been on a buying spree, increasing its holdings by 21% in 2009 as it opened several new mines, and another 24% in 2010. The Wall Street Journal has reported that Russia plans to buy an additional 90 tonnes per year to replenish its reserves.

Japan - 765.2
Gold accounts for only 3.3% of Japan's total foreign reserves which are managed by the Bank of Japan.

Netherlands - 615.5
The gold reserves and national finances are managed by the Netherland Bank.
TUTORIAL: Commodities: Gold

The Bottom line
The biggest holders of gold are governments, central banks and international entities that currently account for 30,500 of the world's estimated 160,000 tones.


http://www.investopedia.com/financial-edge/0911/10-Countries-With-The-Largest-Gold-Reserves.aspx#axzz1qZPFpZdl

 

Well I. Just don't agree with that comment about.

Its not money .....it is money or nobody wood hold it.

Like how the natives in Papua New Guinea

Hord small sea shells

That's their money

So this idea of its. A cultural issue is NONSENSE

JUST SO HAPPENS EVERYBODY WHO HOLDS IT BELIEVES IT A FORM OF MONEY

OR THEY WOOD JUST HOLD ONLY PAPER CURRENCY THEN INSTEAD

BECAUSE WHY CONTINUE A CULTURAL TRADITION IF THIS COMMODITY

ISN'T REAL MONEY....JUST GET RID OF THEN ITS WORTHLESS COMPARED

TOO PAPER CURRENCY THEIR THE ONLY REAL MONEY RIGHT

JUST THROW IT THE OCEAN OR DOWN A. VOLCANOE IF IT AIN'T REAL MONEY

WHY KEEP IT AN KEEP SO MUCH OF IT .....ARE THESE PEOPLE AN GOVERNMENTS

KRAZY OR WHAT JUST LETTIN THESE BARS OF GOLD SIT AROUND DOING NO GOOD

TAKING UP HUGE SPACES COST UNGODLY AMOUNTS OF SUPERIOR. PAPER CURRENCIES

TOO UNEARTH,PRODUCE,REFINE,TRANPORT, AN SO ON

HOW STUPID ARE THESE PEOPLE MAN I GUESS

THEY MUST BEE THE MOST STUPIDEST PEOPLE IN THE WORLD HUH

 

One quik point here.

Fort Knox....its empty

Why else wont they let anyone in too see those ancient

Cultural relics of barborism called gold bars

The bars from the barbaric days of the dreadfulls heathens

If there present no threat so why wont they let anyone in too see them

 

Why is the price of gold where it is right now? What currency is it priced in? Answer those two questions and you know exactly how stable gold is compared to a fiat currency namely the dollar.

If the dollar was strong, truly strong, and the FED was going to allow rates to rise as they should....then the price of gold, again, priced in dollars....would fall.

Until the FED raises rates, stops monetizing US debt and injecting liquidity into the worldwide economy then gold is a safe bet.

Too bad there are legal tender laws and taxes on gold otherwise it would have kept the politicians in check. Hell....just allow for competing currencies. See how quickly the dollar stays top dog.