nonsequitur?glasseye wrote:I wanna clear this up. I am an excellent speller and I infrequently make spelling mistakes.turk wrote:. Ge , if yer gonna use. 50 ¢ words, spell 'em right or lay off the bong dude. :-DAshtarot wrote:What a way to start the day, with a brilliant observation!glasseye wrote:I hereby submit to the administrators that turk's username be permanently, unilaterally and irretrievably changed to "nonsquitur"
Thanks
Which word did I spell wrong, turk?
Zooooooooom, right over my baldy head.glasseye wrote:No, I purposely spelled it that way because it was supposed to be his new login name.
Still waiting, turk.
MeyerII wrote:
As everybody knows, inflation is a rise in the general level of prices of goods and services in an economy over a period of time, often expressed in terms of the Consumer Price Index (CPI). As with everything, there are good things and bad things about inflation. The good is that modest inflation gives us wiggle room during a recession and also provides a modicum of debt relief over time. The negatives are many, and get worse as the rate of inflation gets higher. Generally,economists tend to feel that a rate of inflation rate between 2 and 5 percent is healthy and represents a growing economy.
So what is the current inflation rate for September of 2010? You want to guess?
How about 1.14%?
Hi Chris....I'm not so sure that if Ron Paul were elected it would have an overall bearish impact on the price of gold.BellePlaine wrote:Wow. This tells me that Gold is a good investment just as long as anyone but Ron Paul gets elected.
http://pricedingold.com/us-retail-gasoline/Gas priced in gold
Here's a little something for those of you who think that gasoline is expensive. The price denominated in dollars may be rising, but in historical terms, it's still a bargain for those of us in the U.S. of A.
This chart is inspired by The Silicon Graybeard's post on OPEC and gas prices. Among other things, The Gray One writes about the price of gasoline compared to gold prices, which got me to thinking... what kind of chart would we get if we calculate the average price of gasoline per gallon, in ounces of gold (using the average gasoline and gold price for the year)?
Some examples:
In 1919, with gold at $20.67 an ounce, and gasoline at $0.255 per gallon, it would have cost 0.01232 oz. of gold to buy a gallon of gas.
In 1942, gold was $35/oz. and gasoline at $0.204/gallon, and it would have cost you 0.00584 oz. of gold to buy a gallon of gas.
In 1970, with gold at $36.07/oz., gasoline at $0.357/gallon, you would have coughed up 0.00989 oz. of gold to buy a gallon.
Today, with gold at $1,440/oz., and gasoline at $3.154 (man, I don't know where you can get it for that price, it's about $3.70 a gallon in northern California), you need only 0.00219 oz. of gold to buy a gallon of go-juice.
This may not be all that interesting, except as a reminder that gold isn't going up, paper money's going down. (We might say the same thing about commodities, which I expect are suffering from relatively weak demand in this economy -- but there's far less demand for U.S. Dollars relative to the supply, and people aren't so confident in the U.S. economy's near-future prospects...)
Now, having said all that, gas prices may be causing you pains, because you may be falling behind the inflation curve–I understand your frustration, I agree that it sucks, but it's misguided to blame the oil companies for that. You can thank your genius 'representatives' in Washington who.......................along with the Federal Reserve, are doing just about everything in their power to destroy the value of the Federal Reserve Notes you received for your labor.
This chart shows the retail price of gasoline in the US, given as mg of gold per gallon of gas. It is based on an average price for all grades of gas in all areas of the country, sampled weekly by the Department of Energy.
Prices for gasoline were fairly steady from 1995 to 2008, varying from 100 to 200 mg, and averaging about 130 mg. In 2008, as the economy collapsed, gas prices fell to a new low of 59 mg, and remain around 65 mg today. Yet over the time period covered by this chart, the dollar prices of gas have gone from about $1.00 per gallon to over $3.00 per gallon.
Rather than complaining about high fuel prices, you should realize that fuel prices are near their historic lows!
The price of gold is reflected in the declining value of the dollar; the real story is not the rising value of gold, but the loss of value of the dollar; this is inflation- Is Anyone in DC concerned? What would their plan of action be?
In the overall scheme of economic progress, we are being stealthily pick-pocketed, however.denjohn wrote:Gas priced in gold
Here's a little something for those of you who think that gasoline is expensive.
You forgot to put the parenthesis around "progress".Amskeptic wrote:
In the overall scheme of economic progress, we are being stealthily pick-pocketed, however.
Colin
"In a social democracy with a fiat currency,
all roads lead to inflation." —Bill Fleckenstein
