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alstry (35.42)

Could Bernanke Be The Economic Equivalent of Hitler?

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April 26, 2011 – Comments (28)

He takes Food and Fuel out of the formula to calculate inflation/CPI?

Social Security and Wages are tied to CPI.

People need Food and Fuel to survive.

Now more and more Americans are having difficulties obtaining Food and Fuel as prices are skyrocketing but wages are collapsing/stagnant.

Remember when Bernanke said Sub Prime was contained.

Remember when Bernanke said houses don't fall in price.

Remember when Bernanke said he doubted America was headed for a recession.

And now he says there is no inflation as millions of Americans are on the brink of disaster.

Gas prices rise for 35th straight day...

Fuel, food price hikes a major threat -- ADBFood, Fuel Prices to Rise Further [analysis]

 Zoellick Says Price Controls Won't Halt Food Price Rise

HOW MANY AMERICANS WILL SUFFER AND DIE BEFORE WE FIGURE IT OUT?

NEVER AGAIN!!!!!

28 Comments – Post Your Own

#1) On April 26, 2011 at 6:16 PM, Betapeg (< 20) wrote:

Oh man, any time Hitler is mentioned to make a point, readers beware, you're probably reading nonsense.

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#2) On April 26, 2011 at 6:25 PM, alstry (35.42) wrote:

I could have used Stalin, that mathematically would have been a higher number....especially if you were Ukranian.

It is amazing how many Americans could be suffering from the policies of a few bankers yet so many Americans don't give a damn.

Oh well.....once money is worthless.......more will care.

 

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#3) On April 26, 2011 at 7:00 PM, TMFAleph1 (95.13) wrote:

Why, oh why are these myths regarding the CPI so persistent? Social Security is NOT indexed on core CPI. Social Security is indexed on the All Items CPI for Urban Wage Earners and Clerical Workers (CPI-W), which includes food and energy prices.

http://www.bls.gov/cpi/cpiqa.htm#Question_1 

I understand that when you are producing propaganda, accuracy isn't your first concern, but make an effort...

Alex Dumortier

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#4) On April 26, 2011 at 7:24 PM, alstry (35.42) wrote:

Oh so you fail to address hedonics when you correct me? 

Nobody ever said CPI was indexed to Core CPI......

Interesting;)

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#5) On April 26, 2011 at 7:38 PM, TMFAleph1 (95.13) wrote:

When you're caught out, admit it, don't dig yourself deeper into a hole. You wrote:

He takes Food and Fuel out of the formula to calculate inflation/CPI?

Social Security and Wages are tied to CPI.

People need Food and Fuel to survive.

The obvious implication of these three statements is that SS is indexed to a CPI index that doesn't include food and energy. Stricly speaking, you're right: You don't state it explicitly. It's a classic technique from the Michael Moore school of rhetoric.

Alex Dumortier

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#6) On April 26, 2011 at 7:48 PM, alstry (35.42) wrote:

Hedonics distorts the price of food...

You think my relious Jewish and Moslem brothers exchange pork for beef?  or Surly drinker beer nuts drink Coors Light?

I know exactly what I stated and I said the CPI takes food and fuel out of the equation....and then if you apply the fall in home prices/rents, it distorts inflaton even further as it applies to the elderly especially since they own their own homes but property taxes and insurance is going up while their SS payments are not.

Not only does it take it out of the equation...the CPI artifically distorts reality downward at a time when tens of millions of Americans are facing financial armageddon...but I tried to keep my blog short for simplicity.

Hopefully we are on the same page now....my brother from a different mother

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#7) On April 26, 2011 at 8:06 PM, dfhjkyu (< 20) wrote:

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#8) On April 26, 2011 at 8:08 PM, TMFAleph1 (95.13) wrote:

We are very far from being on the same page, as I prefer to remain grounded in reality instead of some fantasy world inside my head.

Hedonics distorts the price of food...

And so the backpedaling begins as you begin to focus on supposed distortions instead of the initial implication that food is not counted at all in the CPI that is used to adjust SS payments.

Unfortunately for conspiracy theorists, the data doesn't bear out their claims. The aggregate impact of hedonic quality adjustments since 1998 has been a small increase in the annual rate of change of the All Items CPI (roughly .005 percent per year).

You think my relious Jewish and Moslem brothers exchange pork for beef?

Ah, the old "hamburger for steak" argument that is so dear to conspiracy theorists. Another tired myth; the Bureau of Labor Statistics does not assume that consumers substitute hamburger for steak as the price of steak increases. 

...but I tried to keep my blog short for simplicity.

Surely you meant: "...I tried to keep my blog short in order to obfuscate the reality behind my propaganda."

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#9) On April 26, 2011 at 8:19 PM, alstry (35.42) wrote:

http://www.zerohedge.com/article/tale-two-inflations-here-why-us-cpi-indicator-flawed-and-why-bernanke-will-maintain-zirp-rev

Please, my brother, you know you are looking more and more Foolish each time you post....but keep 'em coming, because I know you can't resist.

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#10) On April 26, 2011 at 8:23 PM, alstry (35.42) wrote:

Not only is food not counted properly...it is improperly distorted downward.

Pay special attention to the hamburger to steak controversy that sparked your BOLD quote:

http://www.shadowstats.com/article/special-comment

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#11) On April 26, 2011 at 8:28 PM, TMFAleph1 (95.13) wrote:

Shadowstats' entire business model is built around fostering these myths. Why believe that they are more impartial than statisticians at the Bureau of Labor Statistics? The same goes for ZeroHedge, by the way. They are not a credible source. 

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#12) On April 26, 2011 at 8:34 PM, alstry (35.42) wrote:

You mean subprime is contained is credible?  Or housing doesn't fall in price as Fed banks are shorting mtgs is credible?

You keep citing the Fed for credibilty....as they say inflation is near zero and commodity and fuel prices are up 30, 50, 100% and more in less than a year.

Seriously, how deep do you want to dig your hole.

Or if you really want to have some fun with crediblity, watch Fed Governor Mishkin on Inside Job.....afterwards, you may want to retract your crediblity statement and your appology will be accepted;)

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#13) On April 26, 2011 at 8:41 PM, truthisntstupid (83.28) wrote:

http://www.washingtonpost.com/opinions/2011/04/06/AFNEgnqC_story.html

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#14) On April 26, 2011 at 8:42 PM, TMFAleph1 (95.13) wrote:

Your grasp on reality is tenuous: Where did I cite the Fed for credibility? I haven't even mentioned the Fed in this entire string of posts -- the next paragraph is the first instance.

You keep trying to conflate core CPI with the All Items CPI. The Fed is focusing on the former; at least they know the difference.

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#15) On April 26, 2011 at 8:49 PM, MazonCreekRich (< 20) wrote:

Wow, alstry -- Hitler?  Godwin's Law lives!

It must be very embarassing to be so predictable, in such a loony-tune way.

And many thanks to Jim Gillies for first bringing this beautiful put-down to my attention. 

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#16) On April 26, 2011 at 8:49 PM, alstry (35.42) wrote:

No my friend, what I am saying is the Fed uses CPI to argue that there is no inflation.....and CPI is used to hold SS payments stagnant...

While inflation is spiraling out of control and that the CPI takes rising food and fuel prices out of the equation....no more and no less....as tens of millions of Americans are suffering, especially the elderly.

Can you please tell me what percentage of the CPI accounts for Food and Fuel?

And then can you please tell me if that is a material number....especially after factoring hedonics?

And then please appologize for your rant...and I will gladly accept it.

Why do you hate Americans and the elderly so much?

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#17) On April 26, 2011 at 8:54 PM, TMFAleph1 (95.13) wrote:

There's no point in arguing with you, as you keep repeating falsehoods that I have already debunked. Next time you want to use the "lunatic's defense", let me know ahead of time, and you can save both of us some time and energy.

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#18) On April 26, 2011 at 8:54 PM, alstry (35.42) wrote:

Broke,

Actually this would be the inverse of Goodwin's Law, as hitler was invoked at the beginning of the discusstion and then Stalin was later applied to raise it to a higher level.

Goodwin's law contemplated the opposite chronology.

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#19) On April 26, 2011 at 8:57 PM, alstry (35.42) wrote:

TMFBull,

Of course there is no point in arguing with me because you have no point.

You now know that Food and Fuel make up a very small percentage of the CPI....and after factoring hedonics, really don't factor at all.

Don't you think I knew we would reach this point at the very beginning?

FYI, next time....watch my expressions as I look at your cards, not when I look at my cards.

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#20) On April 27, 2011 at 1:22 AM, Betapeg (< 20) wrote:

Alstry, do you think we're stupid? Let me quote it this so it resonates. 

 

"When you're caught out, admit it, don't dig yourself deeper into a hole. You wrote:

He takes Food and Fuel out of the formula to calculate inflation/CPI?

Social Security and Wages are tied to CPI.

People need Food and Fuel to survive.

The obvious implication of these three statements is that SS is indexed to a CPI index that doesn't include food and energy. Stricly speaking, you're right: You don't state it explicitly. It's a classic technique from the Michael Moore school of rhetoric.

Alex Dumortier" 

 

We call that getting...

Pulpit rock 

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#21) On April 27, 2011 at 8:55 AM, alstry (35.42) wrote:

I don't thik you are stupid, I simply know you are ignorant of the fact that CPI places very little weighting on Food and Fuel where they are essentially taken out of the equation.

But for most people, and an increasing number everyday, Food and Fuel is consuming a higher and higher percentage.

 

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#22) On April 27, 2011 at 12:28 PM, L0RDZ (82.15) wrote:

OWNED>>>> LMAO>>>>

still no reasonable solutions......  just rants and raves....

 

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#23) On April 27, 2011 at 12:37 PM, Betapeg (< 20) wrote:

Yea, but clearly, Social Security, food stamps, and other welfare programs are based on a CPI number which does average in food and fuel. Your statements either show you were ignorant of this or deliberately manipulated the facts to make an argument as if the government maliciously cooks the stats. I have to give props to TMFBullnBear  for calling you out. 

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#24) On April 27, 2011 at 12:41 PM, mtf00l (45.85) wrote:

L0RDZ,

"still no reasonable solutions......  just rants and raves...."

Oddly,... I agree with you...

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#25) On April 27, 2011 at 1:04 PM, ETFsRule (99.94) wrote:

"Not only is food not counted properly...it is improperly distorted downward."

That's backwards. You should stop reading the nonsense spewed by Shadowstats, and instead find some industry experts and other non-political sources.

The official CPI numbers actually overstate changes in food prices (compared to independently-gathered Nielsen data).

Consumer Price Index Overstates Food-Price Inflation

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#26) On April 27, 2011 at 1:07 PM, L0RDZ (82.15) wrote:

LORDZ is very likeable and agreeable....  LOL

 especially when met in person   in real life and not behind some screen  behind words.

 

 

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#27) On April 27, 2011 at 1:09 PM, L0RDZ (82.15) wrote:

As to high  &  higher gas prices you need only lay the blame at the idiot at the top...

The one where the buck should stop, instead it only starts...

You know who  I speak of   ~   the darker JImmy Carter  from another mother.

Same thing with food. 

 

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#28) On April 27, 2011 at 1:24 PM, TMFAleph1 (95.13) wrote:

@ETFsRule

That's an interesting paper, but I wouldn't bother trying to argue with alstry on the basis of facts, data or logical reasoning. All of these are wated on him, since he prefers to operate on a different plane -- that of delusional conspiracy, disinformation and infantile rhetoric.

Alex Dumortier

 

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