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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: Fun-da-Mental#1 who wrote (4795)	3/28/2007 5:10:24 PM
From: maceng2	Read Replies (1) \| Respond to of 50397

But we have to get past this flat-earth, the-fed-is-the-enemy, let's-go-back-to-the-gold-standard thinking. China and Japan had and still have governments that promote jobs and industry for their own people. History will show whether the Fed is doing a good job or not. Bubble generation is not good governance in my book. That is about all we have seen. That and the drainage of jobs overseas.

To: Fun-da-Mental#1 who wrote (4795)	3/28/2007 6:55:04 PM
From: pogohere	Respond to of 50397

I looked at that inflation calculator. $1 in 1913 = $20.56 today. So does that mean that inflation has eroded our purchasing power? No, because wages have increased too. No, because if you invested that dollar in treasury bonds and kept reinvesting it at an average 6% interest it would be worth $239.19 today. If you invested it in gold it would be worth $32.26. I find this sort of linear, static analysis uncompelling. Investment styles change with the times. But we have to get past this flat-earth, the-fed-is-the-enemy, let's-go-back-to-the-gold-standard thinking. Your straw men don't interest me. Admittedly the Great Depression happened on the Fed's watch. No biggie, huh? Why let a complete disaster ruin your day? You can appreciate the Fed all you want. The Fed is a private institution that serves its members private interests. I'll pass.