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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: jim black who wrote (67853)	8/10/2006 12:01:21 AM
From: mishedlo	Read Replies (9) of 110194

More horseshit Seriously I am tired of this crap. The average house in in 1903 had what 800 sq ft? So we compare that to the price of the average house today and say "oh my" inflation Do you want to drive a 1921 model ford or one of today's cars? Is it a valid comparison? What about a computer? Today's laptop will ouperform a $3 million computer from 1970. What about dual pane, argon gas filled, low-e windows? Could you get them at any price 30 years ago? Yet inflationists on the basis of such horseshit comparisons (a car to a car and a house to a house) say the dollar has fallen 95% in value or whatever since 1921. Look at corn. No one talks about that. Sitting at 1943 prices. Wheat, same thing? Yes, if you are stupid enough to eat out at mcdonalds vs cooking your own hamburger you are screwed. Airline fares. What have they done over the last 10 years? Car prices? Prices of PCs? Prices of food (store bought). I can speak of the latter because 1) I am a damn good shopper 2) I workerd in a grocery store 1969-72 3) I have a damn good memory Sales prices on many things (chiken turkeys even steak) Has little more than doubled in over 30 years. Tell me the annual inflation on that! A 6-pak of pepsi cans was $1.49 on sale in 1969 What is it today? I buy a 30 pak of miller beer for $11.98 what was it 30 years ago? Chicken legs .49 lb on sale vs a price I remember (.29) What kind of inflation is that? How much of that inflation on homes is 600 sq ft vs marble countertop, 3200 sq ft, A/C, and a shitload of options that did not even exist 40 years ago. Yes, prices HAVE risen. But how much of that is quality, materials, size, etc. And how much of that is because of printing? That is the nut and the nut is inflation. The rest is nonsense. Unfortunately it is damn hard if not impossible to meaure the size of the nut. The whole mess is of course compounded by peak oil, which has nothing to do with anything. Mish

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