Tuesday, December 8, 2009

 

Citizens Sign Petition for Five Years of 100% Inflation

I only watched the first 2 minutes, but this was pretty funny. (HT2 Danaver for sending me the Mish link.) Insert Scott Sumner joke here.


# posted by Bob Murphy @ 11:26 AM


Comments:
YAY old guy at 5:20! He's the only one who got it! I'm surprised the rest of them can even tie their own shoes every morning.

This all melds nicely into my theory that if you are an anarcho-capitalist who is truly serious about educating people, you should be teaching at a primary or middle school. All college profs and adult lecturers--you are too late. Either you are preaching to the choir or you are spending a huge amount of effort deprogramming, and even then the results are not at all guaranteed. Fourth through eighth grades are were all the groundwork is laid. The socialists get it, why can't the anarcho-capitalists?
# posted by Anonymous Anonymous : December 8, 2009 at 1:37 PM
 
The current administration probably has the same attitude towards inflation as Sony did (does?) about root kits.

"Most people, I think, don't even know what [inflation] is, so why should they care about it?"
# posted by Anonymous Anonymous : December 8, 2009 at 2:48 PM
 
It's too bad I have two tests tomorrow, because this video makes me want to drink straight from the bottle.
# posted by Anonymous Anonymous : December 8, 2009 at 3:05 PM
 
video is down on here and on youtube

black helicopters must have been deployed to handle this

;)
# posted by Anonymous Long Balls Larry : December 8, 2009 at 3:05 PM
 
Hey Bob,

I watched your last video about Bernanke's lack of an exit strategy.

You mentioned the monetary base, I believe, increased 1700% from Aug 08 to Aug 09. I thought it just doubled? Can you send me your source?

Thanks.
# posted by Blogger Dave : December 8, 2009 at 5:18 PM
 
Dave,

I hope I didn't say that, because it's not true (as you note). I might have been referring to bank reserves. If you can point me to the exact spot in the video, I can give you the source.
# posted by Blogger Bob Murphy : December 8, 2009 at 5:32 PM
 
Sumner's name is right there below Krugman's and DeLong's, and just above Bernanke's.
# posted by Anonymous Yancey Ward : December 8, 2009 at 8:25 PM
 
Reminds me of the Penn & Teller petition to ban dihydrogen monoxide (H20).

"she's not gonna lie ... just talk about what water is and what it does with a vocabulary and tone of environmental hysteria"
# posted by Blogger Nico : December 9, 2009 at 7:55 AM
 
Bob, you should have stuck around another 30 seconds or so, where the guy tells the lady that hyperinflation will help "the bankers and the Illuminati." Naturally, she signs the petition.
# posted by Anonymous Ralph Raico : December 9, 2009 at 1:03 PM
 
Now, you just approvingly posted a comment saying that, if 70% of people want increased Fed oversight, that must be good! So 100% inflation must be good as well!
# posted by Blogger gcallah : December 9, 2009 at 2:18 PM
 
Gene,

I said that guy's comment was funny. I also think George Carlin's standup is funny. If you watch his stuff I'm sure you can find other "contradictions" in my views.
# posted by Blogger Bob Murphy : December 9, 2009 at 2:23 PM
 
Bob,

You must have been referring to bank reserves. You were talking a lot about them.

I guess I thought bank reserves were a part of the monetary base.

Are bank reserves part of M2 or M3?

Thanks.
# posted by Blogger Dave : December 9, 2009 at 9:45 PM
 
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