McCains vice president
09-01-2008, 01:34 AM
#91
1.5 BAR
Join Date: Nov 2005
Posts: 828
Re: McCains vice president
Well if I remember correctly the reported inflation for this quarter is like .8 percent or something, BUT they don't food or fuel OR anything else that changes dramatically, the reasoning is because they are trying to "trend" long term changes or something.
Anyhow the GDP he listed at 3.3% is called the "Real" Gross Domestice Product because thats what you get after subtracting inflation, before inflation is taken out its called "Nominal" GDP.
as for inflation it depends how you calculate it, according to http://www.bls.gov/cpi/cpid0807.pdf as of july the unadjusted CPI for the year is 5.6%.
lookup the "Boskins commission" to find out how they changed the methods of tracking the gdp, its pretty retarded.
Anyhow the GDP he listed at 3.3% is called the "Real" Gross Domestice Product because thats what you get after subtracting inflation, before inflation is taken out its called "Nominal" GDP.
as for inflation it depends how you calculate it, according to http://www.bls.gov/cpi/cpid0807.pdf as of july the unadjusted CPI for the year is 5.6%.
lookup the "Boskins commission" to find out how they changed the methods of tracking the gdp, its pretty retarded.
09-01-2008, 01:47 AM
#92
3.0 BAR
Join Date: Jul 2003
Posts: 6,449
Re: McCains vice president
Originally Posted by jay
Do you think economist are dumb enough to not account for inflation?
nominal gdp/gdp deflator x 100 = real gdp
nominal gdp/gdp deflator x 100 = real gdp
I was asking a simple question, sig did a solid job answering it.
Problem is, is that as little as each of us REALLY know about this ----...I doubt many of the politicians know any more.
09-01-2008, 01:48 AM
#93
3.0 BAR
Join Date: Oct 2005
Posts: 9,282
Re: McCains vice president
Originally Posted by signorelli21
Well if I remember correctly the reported inflation for this quarter is like .8 percent or something, BUT they don't food or fuel OR anything else that changes dramatically, the reasoning is because they are trying to "trend" long term changes or something.
Anyhow the GDP he listed at 3.3% is called the "Real" Gross Domestice Product because thats what you get after subtracting inflation, before inflation is taken out its called "Nominal" GDP.
as for inflation it depends how you calculate it, according to http://www.bls.gov/cpi/cpid0807.pdf as of july the unadjusted CPI for the year is 5.6%.
lookup the "Boskins commission" to find out how they changed the methods of tracking the gdp, its pretty retarded.
Anyhow the GDP he listed at 3.3% is called the "Real" Gross Domestice Product because thats what you get after subtracting inflation, before inflation is taken out its called "Nominal" GDP.
as for inflation it depends how you calculate it, according to http://www.bls.gov/cpi/cpid0807.pdf as of july the unadjusted CPI for the year is 5.6%.
lookup the "Boskins commission" to find out how they changed the methods of tracking the gdp, its pretty retarded.
09-01-2008, 02:15 AM
#94
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Join Date: Dec 2002
Posts: 15
Re: McCains vice president
Originally Posted by xenocron
There hasn't been a republican who has gone into a presidency in the last, oh 40-60 years or so that gone out with less debt than when they started.
I'm pretty sure I remember Bill Clinton putting a serious dent and correction into our national debt (which China owns the majority of). He also has us moving in a direction to keep putting that dent even further...
Unfortunately when you spend a trillion dollars on a war that ended lives, created MORE extremist Islamics to attack us and caused our gas prices to go up...you tend to slip into a recession and start having to borrow money to pay for it all.
I'm pretty sure I remember Bill Clinton putting a serious dent and correction into our national debt (which China owns the majority of). He also has us moving in a direction to keep putting that dent even further...
Unfortunately when you spend a trillion dollars on a war that ended lives, created MORE extremist Islamics to attack us and caused our gas prices to go up...you tend to slip into a recession and start having to borrow money to pay for it all.
Ding, ding, ding: most informed post of the thread. No wonder this guy owns the joint.
I have dinner with people whose annual compensation is in the millions and who pay less than 20% tax, if any. I make a living out of foreclosing on people who were sold a bill of goods so that others could make millions in compensation. When the value of the foreclosed property doesn't cover the loan, the borrowers get taxed for the deficiency at 1.5 to 2 times 20%. Get the irony? Hey, great system!
To afford our credit culture we are selling our country to not only the Chinese but to the Russians and the Arabs. These people are not our friends. We can spend 10 billion a month of borrowed money to fight a war that can't be won (when the real one in Afghanistan could be won) all we want. If they own our country, there won't be jack ---- we can do about it. So who here supports abandoning returning troops to non-existent health care? Who here thinks multimillionaires should not pay taxes? Who here thinks politsizing the justice department furthers the constitution.
Obama is popular abroad because he represents what makes us different. If you have a brain and are willing to work perhaps you can obtain the unthinkable. George Bush is a rich, lying, murderer who can't put a coherent sentence together but covers it by saying God at the end. The mere fact that someone like Obama can run for president will do more for US foreign policy (yes, we do need the rest of the world) then all of Bush's efforts. Quick, what has bush done to help this nation? What's that? I can't hear you. Oh, sorry.
Anyone who calls a former president of the Harvard law review stupid doesn't understand intellect.
09-01-2008, 02:20 AM
#95
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Join Date: Dec 2002
Posts: 15
Re: McCains vice president
Originally Posted by xenocron
GDP might have gone up according to your estimates, I mean stats...but how much has inflation grown during that same period?
09-01-2008, 02:24 AM
#96
0.0 BAR
Join Date: Dec 2002
Posts: 0
Re: McCains vice president
Originally Posted by ridewhencan
Ding, ding, ding: most informed post of the thread. No wonder this guy owns the joint.
I have dinner with people whose annual compensation is in the millions and who pay less than 20% tax, if any. I make a living out of foreclosing on people who were sold a bill of goods so that others could make millions in compensation. When the value of the foreclosed property doesn't cover the loan, the borrowers get taxed for the deficiency at 1.5 to 2 times 20%. Get the irony? Hey, great system!
To afford our credit culture we are selling our country to not only the Chinese but to the Russians and the Arabs. These people are not our friends. We can spend 10 billion a month of borrowed money to fight a war that can't be won (when the real one in Afghanistan could be won) all we want. If they own our country, there won't be jack ---- we can do about it. So who here supports abandoning returning troops to non-existent health care? Who here thinks multimillionaires should not pay taxes? Who here thinks politsizing the justice department furthers the constitution.
Obama is popular abroad because he represents what makes us different. If you have a brain and are willing to work perhaps you can obtain the unthinkable. George Bush is a rich, lying, murderer who can't put a coherent sentence together but covers it by saying God at the end. The mere fact that someone like Obama can run for president will do more for US foreign policy (yes, we do need the rest of the world) then all of Bush's efforts. Quick, what has bush done to help this nation? What's that? I can't hear you. Oh, sorry.
Anyone who calls a former president of the Harvard law review stupid doesn't understand intellect.
09-01-2008, 03:36 AM
#98
1.5 BAR
Join Date: Nov 2005
Posts: 828
Re: McCains vice president
Originally Posted by jay
CPI leaves out housing and fuel when it calculates inflation because, yes, it's looking for long term trends and housing and fuel tend to be very unstable markets. It's really just a market basket of goods they send some lackies who work for the fed branches to go out and buy monthly. It's mainly used to figure out how much to fork over in social scamurity checks.
most every other country uses the traditional method of tracking the purchase price of various products and then comparing that each year, calculating the price increase as inflation. they do count food and fuel its just not used in the "adjusted" results that are accepted as the official totals and used when calculating the GDP, most of which is consumer spending, and since the price of gas is 33% higher than this time last year and assuming we are buying the same amount......
see where this is going? we count gas+food as a transaction for the total GDP but do not count them when calculating the inflation that gets subtracted from the GDP.
09-01-2008, 04:21 AM
#99
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Join Date: Oct 2005
Posts: 9,282
Re: McCains vice president
The full calculations are done and the fuel/housing costs are reported in the cpi report, but it's not included in the "official" calculation. You can look all the stuff up online that you want on the BLS website. The housing prices are located under CPI-U.
http://www.bls.gov/data/#prices
Do your own calc if you're feeling froggy. It's all easy math. The problem is what's presented as data in the news, what's used as a base year, what the government takes as official, etc. The economics of it aren't fucked up one bit. The problem lies in the fact that politicians love to use the economy and how they're going to "save it" as part of their whimsical election-scam and really just end up doing far more damage than they ever took the time to consider.
http://www.bls.gov/data/#prices
Do your own calc if you're feeling froggy. It's all easy math. The problem is what's presented as data in the news, what's used as a base year, what the government takes as official, etc. The economics of it aren't fucked up one bit. The problem lies in the fact that politicians love to use the economy and how they're going to "save it" as part of their whimsical election-scam and really just end up doing far more damage than they ever took the time to consider.
