Page 51 of 51 FirstFirst ... 42434445464748495051
Results 751 to 758 of 758

Thread: The US Recovery

  1. #751
    Defense ProfessionalSenior Contributor tbm3fan's Avatar
    Join Date
    01 Nov 09
    Location
    San Francisco Bay Area
    Posts
    2,953
    Quote Originally Posted by DOR View Post
    Roadrunners, Rancheros and, let’s not forget the
    AMC Pacer.
    Hey, there is nothing wrong with those cars although the Pacer is an acquired taste. I'd be more than happy to add a Roadrunner 4 spd and a Ranchero to my current collection and drive them.

  2. #752
    Senior Contributor DOR's Avatar
    Join Date
    08 Mar 11
    Location
    London
    Posts
    2,196
    Quote Originally Posted by tbm3fan View Post
    Hey, there is nothing wrong with those cars although the Pacer is an acquired taste. I'd be more than happy to add a Roadrunner 4 spd and a Ranchero to my current collection and drive them.
    And, there's absolutely no qualitative difference between a 1975 Roadrunner and a 2015 Mustang, right?
    One's a mirror-image substitute for the other, right?
    Go on, pull the other one.

  3. #753
    Defense ProfessionalSenior Contributor tbm3fan's Avatar
    Join Date
    01 Nov 09
    Location
    San Francisco Bay Area
    Posts
    2,953
    Quote Originally Posted by DOR View Post
    And, there's absolutely no qualitative difference between a 1975 Roadrunner and a 2015 Mustang, right?
    One's a mirror-image substitute for the other, right?
    Go on, pull the other one.
    Well anyone who knew cars would say the 1968-69 Roadrunner. The problem with the 2015 Mustang is that it is completely controlled by a computer and software. I can't work on them. Qualitative there is no difference once I get my hands on the older car and work my magic they are trouble free. Personally I will never buy a new car again and use my '04, '91 and '79 as my daily drivers while my '73, '68, '68, '67, and '65 will stay my fun cars. Simple mechanics, great colors and great character.

    Now if you don't know where the oil goes then it would be best to go new.

  4. #754
    Senior Contributor DOR's Avatar
    Join Date
    08 Mar 11
    Location
    London
    Posts
    2,196
    Quote Originally Posted by tbm3fan View Post
    Well anyone who knew cars would say the 1968-69 Roadrunner. The problem with the 2015 Mustang is that it is completely controlled by a computer and software. I can't work on them. Qualitative there is no difference once I get my hands on the older car and work my magic they are trouble free. Personally I will never buy a new car again and use my '04, '91 and '79 as my daily drivers while my '73, '68, '68, '67, and '65 will stay my fun cars. Simple mechanics, great colors and great character.

    Now if you don't know where the oil goes then it would be best to go new.
    Well, that makes my point.
    In the "services" category one finds motor vehicle repair.
    So, unless you're going to argue that a mid-1970s mechanic is a perfect substitute for a mid-2010s mechanic, the understanding of why, and how, price indicies must be updated regularly is only going to deepen and broaden.

  5. #755
    Senior Contributor GVChamp's Avatar
    Join Date
    26 Aug 06
    Location
    Chicago
    Posts
    1,211
    Any specific measure of inflation is more academic masturbation because of the broad composition of goods and services....particularly over the course of decades or centuries.

    Scott Sumner sums it up pretty well:
    Steven, Around 1970 my dad bought a calculator that did plus/minus/times/divide for $300. It was viewed as a luxury home computer. Indeed the most luxurious home computer you could buy at the time . Recently I paid almost $2000 for a iMac. Luxurious home computers have sharply increased in price. Sound absurd? That’s why I keep claiming that inflation is a meaningless concept. No one knows what the hell it is supposed to be measuring.
    http://www.themoneyillusion.com/?p=27497#comment-364370


    Re: adjusting for happiness:
    In earlier posts I’ve made an argument (similar to Vivian’s and almost the opposite of my previous post)–that if you use a sort of “pleasure” criterion, then price inflation is roughly equal to wage inflation, and living standards haven’t risen at all. Thus people used to get great pleasure from crummy black and white TVs, but now someone with that TV set would be miserable, thinking about the great big flat panel HDTV his neighbor has. He’d feel poor. If economists really believe the CPI is supposed to measure a constant utility level, then for all we know there might have been no real wage gains in the past 100 years. Who’s to say if people are happier than 100 years ago? All of these concepts are so slippery that I’m very skeptical of the notion that there is any “true” rate of inflation.
    http://www.themoneyillusion.com/?p=27528

    Not that inflation isn't useful as a concept, it's just impossible to figure out the number. The most relevant numbers would be cost-of-living increases in the private sector, but I'm guessing a lot of the big ones are already tied to government numbers, which is just measuring the measurement (totally meaningless).

    We all have our own tastes in spending anyways. The only things, IMO, worth paying a premium for:
    -Walkable, safe neighborhood
    -Good schools
    -Cheese
    -Steak
    -Disney World
    -Beer
    -Whiskey
    -Some clothing items
    "The great questions of the day will not be settled by means of speeches and majority decisions but by iron and blood"-Otto Von Bismarck

  6. #756
    Patron
    Join Date
    07 Oct 14
    Location
    San Jose, CA.
    Posts
    248
    Quote Originally Posted by DOR View Post
    Anyone interested in actual data?
    https://news.research.stlouisfed.org...cators-series/

    Quits nearly at pre-crisis levels.
    Nearly: https://fred.stlouisfed.org/series/DHIDFHQTRT

    Vacancy-to-unemployment blew right past pre-crisis levels: https://fred.stlouisfed.org/series/DHIDFHVTUR

    Vacancy duration at unprecidented highs: https://fred.stlouisfed.org/series/DHIDFHMVDM
    OK this is national data how does this apply to tbm3fan reference to the SF Bay Area? I believe he is referring to stuff like this http://www.mercurynews.com/2017/04/2...ed-low-income/ complete with HUD data. California has 22% of the nations homeless Democrat or Republican doesn't matter this is a very real problem, that will effect generations.

  7. #757
    Senior Contributor DOR's Avatar
    Join Date
    08 Mar 11
    Location
    London
    Posts
    2,196
    GVChamp,

    Just because Scott Sumner finds it provocative to claim that no one knows what inflation is doesn’t make it true. Just ask that mom shopping at the store. She knows what inflation is.

    Back to the point: How’s that iMac similar to a 1970 HP calculator? Both will do certain calculations, but the iMac will also send the results to the call center in India. It's like comparing BBQ sauce to Apples.

    Ever heard of a chain-type price index? It takes into account the price change from Year 1 to Year 2, and the change from Year 2 to Year 3, and so forth, until you come to the most recent period. The only flaw is substitution: because of the more frequent measurement of price changes, substitutions are captured more quickly, which may slightly overstate inflation.

    This slide show is a pretty good explanation: https://bea.gov/papers/pdf/Moulton0603.pdf

    Inflation is not “impossible to figure out.” If you slice it finely enough, yes, it gets very difficult to juxtapose the cab driver's cost of car care from the plumbers cost of wrenches (both being necessary for the person to work). But, that’s not what we use inflation data for, nor what it is designed to show.

    You pay a premium for walk able, safe neighborhoods in the price / rent of your accommodation. Schools are largely a combination of location and tax base, so again, you’re paying for it and it can be measured. The rest of your list are already in the CPI.

    = = = = =

    Dazed,

    I’m a macroeconomist, so I rarely look at (US) sub-national data. It tends to be slowly released and easily skewered by things such as grocery shopping or working out-of-area.

  8. #758
    Administrator
    Lei Feng Protege
    Defense Professional
    Join Date
    23 Aug 05
    Location
    Arlington, VA
    Posts
    12,887
    going back to the Kansas discussion, this morning the Kansas Republican-held legislature ended the...smashing success...of Brownback's conservative tax reform experiment by overriding his veto.

    meanwhile Laffer and Moore, not content with the wreckage of the Kansas economy, are now pushing for similar policies to be enacted on a national scale.

    https://www.vox.com/policy-and-polit...ack-tax-reform

    In 2012, Brownback pushed through aggressive tax cuts very similar to what Trump wants Congress to do. The state increased the standard deduction and lowered taxes on corporations, individuals, and owner-operated businesses. Like Trump, Brownback insisted that the cuts would unleash so much economic growth that the government would make up the lost revenue. The cuts were supposed to give the economy “a shot of adrenaline,” as Brownback put it at the time.

    Instead, the Kansas economy tanked. For two years in a row, the state’s credit rating has been downgraded because of its budget problems. Job creation and economic growth is far below the national average. The state is facing a budget shortfall of about $889 million in the next two years.

    How did this happen? According to economists, one major factor was that Brownback’s plan eliminated taxes on owner-operated businesses, known as pass-throughs. Brownback promised this would kick-start economic growth by encouraging business owners to reinvest the extra money and expand their businesses.

    Instead — according to new research from economists at the University of South Carolina, Indiana University, and the US Treasury Department — it led to serious tax avoidance.

    ...

    Moderate Republican lawmakers in Kansas are now in open rebellion, scrambling to find ways to roll back the tax cuts as the state looks for ways to balance its budget.

    In recent years, lawmakers raised sales taxes and cigarette taxes to help balance the budget — a move that places a larger burden on low-income families. They also slightly reduced the tax deduction people can claim for mortgage interest and property tax payments. But even those moves weren’t enough to fill the state’s budget hole.

    The budget crisis has collided with a long-running battle over public school funding. The state’s public schools are shouldering the burden of the state’s budget crisis, with $44.5 million cut from public education in 2015 alone.
    There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "My ignorance is just as good as your knowledge."- Isaac Asimov

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Need help with computer recovery.
    By Gun Grape in forum Computer & Gadgets
    Replies: 7
    Last Post: 19 Nov 11,, 18:04
  2. Dauntless recovery
    By SnowLeopard in forum Military Aviation
    Replies: 5
    Last Post: 25 Jun 09,, 21:38
  3. Housing Recovery Begins
    By Shek in forum International Economy
    Replies: 3
    Last Post: 23 Apr 09,, 12:33
  4. How would the recovery come about?
    By Silent Hunter in forum International Economy
    Replies: 16
    Last Post: 25 Dec 08,, 18:16
  5. What Jobless Recovery?!
    By Leader in forum International Politics
    Replies: 12
    Last Post: 19 Feb 04,, 19:06

Share this thread with friends:

Share this thread with friends:

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •