Yet another hypocrite from the ‘holier than thou’ CONservatve (r) inc. crowd at the GOPe.
And ya wonder why Trump won? Crap like that right there. The GOPe is a bunch of lying, hypocritical, do-nothing dirt bags.
Another ‘CON’servative (r) Inc. Bites the dust
by coldwarrior ( 18 Comments › )Filed under Open thread, Politics at October 6th, 2017 - 12:51 am
Inflation and Technology
by coldwarrior ( 117 Comments › )Filed under Academia, Economy, Inflation, Open thread at October 4th, 2017 - 6:00 am
This guy ALMOST gets it. Almost. However, he has missed the biggest and most important aspect of inflation and what determines price.
This is a pet theory of mine that had I stayed in academia I would have done Ph.D Econ work on it.
Coldwarrior’s Inflation law: Inflation is mitigated by perfect information for both the buyer and the seller across a large market.
Simply stated, one of the main reasons that we don’t have inflation now, and haven’t really seen much of it since the advent of the internet is that the buyers can instantly check prices on a good or service from an almost infinite amount of sellers nearly instantaneously and make buying decisions based on their preferences. Sellers can check their competitor’s prices on like or the same goods in the same manner. This FORCES efficiencies in the delivery of goods and services because both the buyer and the seller have what is known in economics as ‘perfect information’.
This is exactly what was not happening before the internet. Yes, you had advertisements in the local paper or on radio/tv. Everyone was tied to Sears and the two or three local supermarkets and a few car dealerships. To get the best deal required much leg work. Most folks had no desire to go to multiple stores and haggle/check prices then buy because time is truly, and in all instances, money. they went where they thought the deal was going to be the best and paid. Sellers counted on that lack of perfect information to make as much profit as possible.
Yes, as the writer states, technology allows goods to be better and cheaper, but perfect information forces lower prices and this is the root cause of the anti-inflationary aspect of perfect information.
And now we have Velocity of Money increasing and there is still no inflation.
WASHINGTON (Reuters) – A measure of U.S. manufacturing activity surged to a near 13-1/2-year high in September as disruptions to the supply chains caused by Hurricanes Harvey and Irma resulted in factories taking longer to deliver goods and boosted raw material prices.
Still, details of the Institute for Supply Management’s (ISM) survey on Monday underscored the economy’s underlying momentum, with factories reporting stronger order growth last month. A measure of factory employment hit its highest level since 2011.
and, 3.1% growth
U.S. second-quarter growth was revised up slightly without altering the bigger picture of a consumer- driven economy that also got a healthy contribution from business spending during the period, Commerce Department data showed Thursday.
Nowhere is Trump mentioned in these articles, in fact they bend over backwards NOT to mention him and his policies.
RIP Tom Petty
by coldwarrior ( 106 Comments › )Filed under Music, Open thread at October 3rd, 2017 - 3:00 am
An Icon has passed
(AP) — Tom Petty, an old-fashioned rock superstar and everyman who drew upon the Byrds, the Beatles and other bands he worshipped as a boy and produced new classics such as “Free Fallin,’ “Refugee” and “American Girl,” has died. He was 66.
Petty died Monday night at UCLA Medical Center in Los Angeles a day after he suffered cardiac arrest at his home in Malibu, California, spokeswoman Carla Sacks said.
Petty and his longtime band the Heartbreakers had recently completed a 40th anniversary tour, one he hinted would be their last.
Massacre on the Vegas Strip at Country Music Festival
by Bumr50 ( 112 Comments › )Filed under Uncategorized at October 2nd, 2017 - 5:29 am
Las Vegas strip shooting: More than 20 dead, 100 injured after gunman opens fire near Mandalay Bay casino
More than 20 people were killed and 100 injured when what appears to be a lone gunman opened fire from a perch high up in the the Mandalay Bay Resort and Casino in Las Vegas Sunday night, police said.
The “nonstop gunfire,” according to one witness, sent bystanders outside the resort on the Vegas strip ducking for cover and fleeing for their lives. Tourists hid in their hotel rooms and flights headed into the McCarran International Airport were held elsewhere.
Bystanders sprang into action, caring for the wounded and at least one described someone dying in their arms.
Videos filmed by onlookers gave a window into the chaos that ensued, with some thinking that fireworks were going off. The final night of the Route 91 Harvest Music Festival was taking place across the street from Mandalay Bay when the shooting took place and concertgoers were caught off-guard.
In the wake of the shooting, the Las Vegas Police Department said the suspected gunman, was believed to be a local, was on 32nd floor of Mandalay Bay hotel. Police responded to the scene, engaged him and he is now dead. Officials said they did not believe there were any more shooters.
Authorities were looking for a companion of the shooter, Marilou Danley, as well as two vehicles, a Hyundai Tucson and Chrysler Pacifica, both with Nevada plates. At least two police officers were hospitalized.
…
I’m just waking up to this.
Terrible.
Prayers for all involved.
Update via Breitbart:
50+ dead, over 200 wounded.
Update at 3:36 a.m. PDT: Main suspect named by police as Stephen Paddock. Born 4/9/53. Police confirm 50-plus reported as dead. Another 200-plus injured. Two vehicles being sought have been found. A female person of interest has also been found.
