Bush's invisible tax increase

Discussion in 'Politics' started by Chris, Jul 16, 2008.

  1. Chris
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    Chris Gold Member

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  2. Stefan
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    Stefan Rookie

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    Yes, that's called inflation. But now, what follows?
     
  3. Diuretic
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    Diuretic Permanently confused

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    Stagflation again?
     
  4. Stefan
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    Stefan Rookie

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    Perhaps. But history does not repeat itself.
     
  5. Diuretic
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    Diuretic Permanently confused

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    No? What about history repeating itself first as tragedy and then as farce?

    Hah, it's okay, just joshing. :D

    No, really stagflation has occurred a few times in our industrialised economies I think. I remember it in the early 1970s. It was a fair bastard of a thing. Connected to an oil shock too. I reckon we're up for it right now.
     
  6. editec
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    editec Mr. Forgot-it-All

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    We are in a period of stagflation right now, folks.

    If you're comparing Carter inflation rate to the inflation rate the government is reporting now, your are being mislead.

    The Government CHANGED changed the methodology for computing inflation since the Carter years.

    Depending on whose ecometrics you believe, if we computed inflation the same way we did back in the Carter years, inflation would be 10-12% APR..

    So...

    We have high inflation. Business activity is down. The stock market is way down, the bond market fibrilating, the real estate market way down.

    Sure as hell seems like stagflation to me.
     
    Last edited: Jul 17, 2008
  7. Stefan
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    Stefan Rookie

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    Well, but the US economy still seems strong for me for all being down. And Europe the same.
     
  8. Wow
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    Wow BANNED

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    Democrats in Congress are screwing up the entire world economy by blocking drilling for oil in the USA.

    Democrats blocking drilling is devaluing the US dollar and is killing exports in foreign countries.

    President Bush lifted the drilling ban on his end of it and oil prices had the sharpest decrease in 18 years.

    The world hates Democrats in the US Congress. :cool:
     
  9. busara
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    busara wanasiasa wapumbava

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    ummmmm..... ok. you are welcome to your opinion. but it seems to me a more direct cause is the gross overspending by the bush administration which has pushed the US deeper and deeper into debt.

    can you clarify your opinion and provide some facts to back it up?
     
  10. MarlPot
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