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Howard Ruff: Inflation
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Thread: Howard Ruff: Inflation

  1. #1
    Join Date
    Aug 2010
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    198

    Default Howard Ruff: Inflation

    Inflation?

    One thing that puzzles many people is the fact that all the conditions for inflation seem to be there. They are printing a lot of dollars, but inflation doesn’t seem to be taking off, though gold and silver are acting as though it is. But gold and silver are right, inflation is taking off.

    First, let me define inflation. To the economist, inflation is not rising prices any more than wet sidewalks are rainstorms. Inflation is an increase in the supply of money. It should really be called dilution because it dilutes the value of existing dollars.

    In fact, a more proper term would be “monetary inflation.” Monetary inflation is currently raging as the Federal Reserve is printing more and more money, and gold and silver are responding.

    Price inflation is another matter indeed. Price inflation is the end result and trails monetary inflation. Monetary inflation is now rampant. Gold and silver, being smarter than you and me, are reflecting that by the increase in price and the big rallies we are seeing now. So inflation is here.

    But what about price inflation? Price inflation has also already started. Look at the increase in commodity prices. How much longer do you think it will be before these higher wholesale costs filter down to the retail level?

    For example, Agricultural Raw Materials are up 24%, The Mineral Index is up 25%, The Metals Price Index is up 26%, Coffee is up 45%, Barley is up 32%, Oranges are up 35%, Beef is up 23%, Pork is up 68%, Salmon is up 30%, Sugar is up 24%, Wool is up 30%, Cotton is up 40%, Palm oil is up 26%, Hides is up 25%, Rubber is up 62%, Iron Ore up 103%. Those are prices at the wholesale level.

    As the price increases continue up the chain of production, is there any chance they will not cause price inflation? Do you think there is any chance at all that producers and retailers will not pass these costs onto consumers?

    Let’s face facts. These cost increases will filter all the way through the system. Soon your paycheck will not stretch nearly as far. Monetary inflation is here. Price inflation is coming. Commodity price inflation is also here.

    These are the reasons that gold and silver are soaring at the moment, as the price of gold keeps setting new highs. Silver has experienced extraordinary gains recently. The U.S. mint has raised their absolute pricing above spot on American silver eagles from $1.50 to $2.00.

    Will Rogers, my favorite economist, said it best and I’ll say it again, “Invest in inflation, it’s the only thing that’s going up!”

    By Howard Ruff
    The Ruff Times

    *****

    Howard J. Ruff, the legendary author and financial advisor, has re-edited and re-issued his 1978 mega best seller, How to Prosper During the Coming Bad Years, still the biggest-selling financial book in history, with 2.6 million copies in print. He is founder and editor of The Ruff Times financial newsletter. The newsletter is much more comprehensive and deals with a broad spectrum of middle-class financial issues and includes an Investment Menu from which you can build your portfolio.The Ruff Times has served more than 600,000 subscribers – more than any financial-advisory newsletter in the world. You can get Howard’s current book, How to Prosper In the Age of Obamanomics free when you subscribe to The Ruff Times (www.rufftimes.com), or if you buy the book at your favorite bookstore, you can deduct $10 from the subscription price.

    http://www.kitco.com/ind/Ruff/ruff_oct072010.html

  2. #2
    Join Date
    May 2007
    Location
    Atlanta
    Posts
    10,577

    Default

    Bumping (banned) Mr Rogers off the first page
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  3. #3
    Join Date
    Apr 2009
    Posts
    5,003

    Default

    Quote Originally Posted by roger View Post
    What inflation ? How come they are not giving out COLA raises with Social Security ?
    Because "offical" government inflation reporting does NOT count the seven+ most commonly consumed items by society (eg. heating fuel, gasoline, food, etc.).

    This is why when in the REAL world, prices and costs are up across the board, in the Willy Wonka world of the government, there is no inflation -- even negative inflation!

    Where there is fiat there is inflation -- ALWAYS.
    Even if people choose to ignore it.
    Caedite eos.

  4. #4
    Ardent Listener Guest

    Default

    Quote Originally Posted by maplesilverbug View Post
    Because "offical" government inflation reporting does NOT count the seven+ most commonly consumed items by society (eg. heating fuel, gasoline, food, etc.).

    This is why when in the REAL world, prices and costs are up across the board, in the Willy Wonka world of the government, there is no inflation -- even negative inflation!

    Where there is fiat there is inflation -- ALWAYS.
    Even if people choose to ignore it.
    You got that right. Even National Public Radio was saying that the other day. The reason they don't count food and energy is because they are "too volatile". Give us a break, they wouldn't be if we didn't have inflation.

  5. #5
    Join Date
    Jun 2008
    Posts
    2,316

    Default

    Quote Originally Posted by maplesilverbug View Post
    Because "offical" government inflation reporting does NOT count the seven+ most commonly consumed items by society (eg. heating fuel, gasoline, food, etc.).

    This is why when in the REAL world, prices and costs are up across the board, in the Willy Wonka world of the government, there is no inflation -- even negative inflation!

    Where there is fiat there is inflation -- ALWAYS.
    Even if people choose to ignore it.
    Dammit, There you go with the facts again instead of Chocolate-Land conjecture.
    Roger's World view is so much more,,,,chocolatley and less stressful.

  6. #6
    Join Date
    Aug 2010
    Posts
    198

    Default

    Roger as usual your data is not up to date and thus your overall assessment incorrect. Listen to Santelli's piece on King World News. Staggering food inflation numbers at the wholesale level already in the pipeline soon to go retail. You're killing me. I have to shine a flashlight on basic information of which you should be aware. This is becoming less and less challenging as I realize where you are information-wise. You just don't have the info to get this, and you are not putting the right amount of time in to "contribute" as much as you do. You are becoming irrelevant.

  7. #7
    Join Date
    Apr 2009
    Posts
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    Caedite eos.

  8. #8
    Ardent Listener Guest

    Default

    That's just for starters. Sad thing is that average Joes will be blaming the Arabs for the price rise instead of the falling dollar.

  9. #9
    Join Date
    Apr 2009
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    5,003

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    Quote Originally Posted by Ardent Listener View Post
    That's just for starters. Sad thing is that average Joes will be blaming the Arabs for the price rise instead of the falling dollar.
    Which is sad because the Average Joes should know that MOST of the oil they burn doesn't come from the Arabs, it comes from the Hosers up in the Great White North.
    Next largest culprit in the import pipeline is all those illegal immigrants in Mexico.

    Thank bujeeziz for NAFTA, eh, Uncle Sam?
    Caedite eos.

  10. #10
    Join Date
    Nov 2008
    Location
    Silverville
    Posts
    1,234

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    Quote Originally Posted by maplesilverbug View Post
    Which is sad because the Average Joes should know that MOST of the oil they burn doesn't come from the Arabs, it comes from the Hosers up in the Great White North.
    Next largest culprit in the import pipeline is all those illegal immigrants in Mexico.

    Thank bujeeziz for NAFTA, eh, Uncle Sam?
    ...and don't forget, "the Great White North" supplies a never-ending stream of piped-in, natural gas for Americans to heat their homes, 'eh'!
    All original wealth comes out of the ground.

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