....lybob Posted April 17, 2011 Share Posted April 17, 2011 Link to comment Share on other sites More sharing options...
KD in CA Posted April 17, 2011 Share Posted April 17, 2011 Is he Hugo Stiglitz's father? Link to comment Share on other sites More sharing options...
DC Tom Posted April 18, 2011 Share Posted April 18, 2011 Is he Hugo Stiglitz's father? "Say goodbye to your capitalist balls..." Link to comment Share on other sites More sharing options...
meazza Posted April 18, 2011 Share Posted April 18, 2011 How much of your knowledge comes from youtube videos? Have you ever even read a book? Link to comment Share on other sites More sharing options...
Magox Posted April 18, 2011 Share Posted April 18, 2011 I agree with about 50% of the things that Stiglitz says, this being one of them in regards to how the U.S dollar is hurting poorer countries. Commodity price inflation is much more damaging to these developing nations simply because food & energy make up a much larger component of their disposable income than it does over here, and since treasury or the reserve have little regard for maintaining a true "strong dollar" policy these countries will be the first to feel the pain of our weakening dollar. However, it is quite the connundrum, our best hope that we have is growing through exports and right now during this global developing world boom, there are many eager and new potential customers out there waiting to buy all sorts of products that we (and other countries) can produce, and having a weak dollar certainly helps us achieve that goal. As I've said all along, we will be living in a slow growth and uncomfortably high inflationary world for the forseeable future, and that is the best case scenario. Link to comment Share on other sites More sharing options...
Dave_In_Norfolk Posted April 18, 2011 Share Posted April 18, 2011 I agree with about 50% of the things that Stiglitz says, this being one of them in regards to how the U.S dollar is hurting poorer countries. Commodity price inflation is much more damaging to these developing nations simply because food & energy make up a much larger component of their disposable income than it does over here, and since treasury or the reserve have little regard for maintaining a true "strong dollar" policy these countries will be the first to feel the pain of our weakening dollar. However, it is quite the connundrum, our best hope that we have is growing through exports and right now during this global developing world boom, there are many eager and new potential customers out there waiting to buy all sorts of products that we (and other countries) can produce, and having a weak dollar certainly helps us achieve that goal. As I've said all along, we will be living in a slow growth and uncomfortably high inflationary world for the forseeable future, and that is the best case scenario. Commodity prices are going to rise in a growing economy no matter what the dollar does. I'm not sure if you are saying--I didn't watch that video--that its the dollar policy driving those inflationary trends, but if you are I would have to disagree. Why is inflation so low here on non-commodity items if this is the dollar driving it? As you have pointed out, there is a world boom going on, THAT'S what's driving the commodity prices higher, not the dollar. On top of that, higher commodity prices are not all bad, its all some countries have to trade, so its actually helping them. Link to comment Share on other sites More sharing options...
Magox Posted April 18, 2011 Share Posted April 18, 2011 Commodity prices are going to rise in a growing economy no matter what the dollar does. I'm not sure if you are saying--I didn't watch that video--that its the dollar policy driving those inflationary trends, but if you are I would have to disagree. Why is inflation so low here on non-commodity items if this is the dollar driving it? As you have pointed out, there is a world boom going on, THAT'S what's driving the commodity prices higher, not the dollar. On top of that, higher commodity prices are not all bad, its all some countries have to trade, so its actually helping them. As I have always maintained, this is not a black or white world, the dollar is not the sole reason for commodity prices going higher, it is A reason, A contributing reason. Global growth definitely is playing a role contrary to what TPS would have you believe, however falling currency values are also playing a significant role as well. The reason why "inflation" isn't high here according to most economists gauges is simply because housing/rentals and wages make up a much larger component of their readings than it does over in the developing world. They don't like to factor in food and energy in their readings because they see it as "transitory", temporary and that reacting to volatility in their view isnt the best way to fight inflation. Well, I understand that sentiment and reasoning, but this isn't a one size fits all sort of world. Sometimes I believe they do need to break out of the line of thinking and not remain so static on their positions. And yes, higher commodity prices arent a bad thing for commodity producing nations, but unfortunately the majority of the world live in substandard conditions, so higher food and energy prices hurt these people much more than it does your normal everyday middle class American. But with time, if prices remain elevated for a sustained period of time, which I believe they will, there will be more of a negative impact on our economy, and I happen to believe we are now entering into the inflationary stage of this crisis. Link to comment Share on other sites More sharing options...
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