Stagflation is here!

by 5go 29 Replies latest social current

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  5go

  This is not a discussion on the merits or lack thereof of a dictatorship, but on the merits of a particular economic policy

  Of which it is part of Friedman's economic policy to depose governments that don't play ball with the US. Then put a simpithetic dictator in charge. Then rape the countries resources, and put a sympathetic ruling class in place, and make them look like they have some support.

  You seemed to over looked that Chile has more disparity between the rich and the poor than some African countries with some really bad reputations for disparity. The country of Chile is rich but the lower classes rarely see any of it. Which is why there are movements that are springing up in Chile, and in the rest of South America. The US aids the governments in putting them down rather violently which causes more to pop up later.
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  Warlock

  No it isn't. If you want to know what real stagflation is, you have to go back to the years during Jimmy Carter's presidency. Interest rates were in double digits and inflation was out of control. Also, umemployment was through the roof...

  Don't forget the gas lines, of which I stood in. Then the "odd and even" gas lines.

  I hope 5go never has to experience that. He couldn't take it.

  Warlock
• 

  5go

  I hope 5go never has to experience that. He couldn't take it.

  Warlock

  I don't drive now

  Speaking of which didn't Nixon have said same problems.

  The 1973 oil crisis began on October 17, 1973, when the members of Organization of Arab Petroleum Exporting Countries (OAPEC, consisting of the Arab members of OPEC plus Egypt and Syria) announced, as a result of the ongoing Yom Kippur War, that they would no longer ship oil to nations that had supported Israel in its conflict with Syria and Egypt (the United States, its allies in Western Europe, and Japan).

  About the same time, OPEC members agreed to use their leverage over the world price-setting mechanism for oil in order to raise world oil prices, after the failure of negotiations with the "Seven Sisters" earlier in the month. Because of the dependence of the industrialized world on crude oil and the predominant role of OPEC as a global supplier, these price increases were dramatically inflationary to the economies of the targeted countries, while at the same time suppressive of economic activity. The targeted countries responded with a wide variety of new, and mostly permanent, initiatives to contain their further dependency.
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  5go

  BTW Nixon's folly

  Because of the excessive printing of paper dollars, and the negative balance of U.S. trade, other nations were increasingly demanding fulfillment of America's "promise to pay". That is, they were demanding gold from the U.S. in exchange for paper dollars. France, in particular, made heavy and repeated demands and acquired large amounts of gold in that manner.

  The "Nixon Shock"

  Main article: Nixon Shock

  By the early 1970s, as the Vietnam War accelerated inflation, the United States as a whole began running a trade deficit (for the first time in the twentieth century). The crucial turning point was 1970, which saw U.S. gold coverage deteriorate from 55% to 22%. This, in the view of neoclassical economists, represented the point where holders of the dollar had lost faith in the ability of the U.S. to cut budget and trade deficits.

  In 1971 more and more dollars were being printed in Washington, then being pumped overseas, to pay for government expenditure on the military and social programs. In the first six months of 1971, assets for $22 billion fled the U.S. In response, on August 15, 1971, Nixon unilaterally imposed 90-day wage and price controls, a 10% import surcharge, and most importantly "closed the gold window," making the dollar inconvertible to gold directly, except on the open market. Unusually, this decision was made without consulting members of the international monetary system or even his own State Department, and was soon dubbed the "Nixon Shock".
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  BurnTheShips

  Quid pro quo HS. 5GO started the crapflood.
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  BurnTheShips

  Of which it is part of Friedman's economic policy to depose governments that don't play ball with the US. Then put a simpithetic dictator in charge. Then rape the countries resources, and put a sympathetic ruling class in place, and make them look like they have some support.

  Absolutely untrue.
• 

  BurnTheShips

  You seemed to over looked that Chile has more disparity between the rich and the poor than some African countries with some really bad reputations for disparity.

  Disparity disparity disparity shmisparity. As humans we feel rich or poor only in comparison to others. I ask you this, on average, are poor Chileans richer or poorer than in the African countries you cite? Also what percentage of the population is in Chile and in the countries you refer to?

  Somehow I have the feeling that you are rather poor yourself 5g0. Are you receiving government aid? If you are I insist you stop wasting time on this site and get a job. Or do you live in your mother's basement? Maybe you are angry because she did not make you your favorite dish of macaroni and cheese with hotdogs. Or maybe the heating broke down in there.

  Burn
• 

  5go

  Somehow I have the feeling that you are rather poor yourself 5g0. Are you receiving government aid? If you are I insist you stop wasting time on this site and get a job. Or do you live in your mother's basement? Maybe you are angry because she did not make you your favorite dish of macaroni and cheese with hotdogs. Or maybe the heating broke down in there.

  Well I am in the process of finding a job which the Bush administration finally can't hide what I have been noticing for a while. There aren't any to find. Yes, I get a fast food job but not a career, or a life sustaining job.

  Funny how you love to make fun of my plight when it's your guy that caused it. I had a good career until a few years after Bush took over. Yes I make no point to hide I live at home in fact I take care of the house for my parents seeing as the both have to work to make ends meet.

  Which my Mom didn't (more like couldn't see my bio) when I was younger. No, if the heating breaks in my house I can fix it. I have skills but I can not find some one that will pay me fair value to use them. Mainly do to employers using illegals to cut cost. I can make more money flipping burgers than in the trades. That is unless I am willing to hire illegal and cut corners to compete but I have a conscience.

  Maybe you are angry because she did not make you your favorite dish of macaroni and cheese with hotdogs

  Why? I can and do cook rather well in fact I can make a mean rotisserie chicken, and turkey breast, and a Chicken Ranch Pizza to die for. Also there is hamburger helper for when I feel lazy.

  btw THE RECIPE FOR A CHICKEN RANCH PIZZA

  Two ways you can do it one buy premade fajita chicken meat, or two make it your self just make sure the chicken has garlic on it.

  The you will need a thin pizza crust- premade works best.

  you will need ranch dressing - a normal salad bottle type work well it doesn't use much

  and either provolone preferable or mozzarella cheese

  Pre heat the oven to 450

  spread the ranch dressing on the crust to your liking (no tomato sause it will ruin it)

  Then you put the (precooked chicken) and your type cheese on top either first it doesn't matter.

  cook till cheese melts. Enjoy!
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  BurnTheShips

  You hang around on DKOS a lot don't you.
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  5go

  You hang around on DKOS a lot don't you.

  No, but thanks for the new resource.