Moggio on Inflation

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DEATH ROW JOE
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Moggio on Inflation

Post by DEATH ROW JOE »

Moggio wrote:Hyperinflation occurred in the mid-late '70s and early '80s, dipshit.
There was nothing close to hyperinflation in the 70s. Hyperinflation is defined as a monthly rate of inflation over 50%. The monthly rate of inflation exceeded 1% a few times during the period you mention. You have no idea what hyperinflation is, dunce. Inflation was high during that time, annual rate of inflation was between 10-15% from March 79 to Nov 81. But nothing close to hyperinflation.

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In 1956, Phillip Cagan wrote The Monetary Dynamics of Hyperinflation, generally regarded as the first serious study of hyperinflation and its effects. In it, he defined a hyperinflationary as starting in the month that the monthly inflation rate exceeds 50%, and it ending when the monthly inflation rate drops below 50% and stays that way for at least a year.Economists usually follow Cagan’s description that hyperinflation occurs when the monthly inflation rate exceeds 50%.
Moggio wrote: And currently, since you can't print $100 BILLION per month and not have hyperinflation, hyperinflation is ALREADY here.
Gasoline is cheaper in 2013 than in 2012, 2011 and 2008. The rate of inflation in April was -.4%. There is monthly deflation, not inflation, let alone hyperinflation.

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Moggio wrote: But since The Fed are MANIPULATING inflation rates at about 1.5% or less and interest rates at basically 0%, they're delaying the Currency/Treasuries Bubble from bursting...:roll:
That makes no sense dunce. The Fed is trying to generate inflation to reduce unemployment. They are not trying to keep inflation low right now. They are buying bonds because inflation is too low and they are required by law to generate inflation to reduce unemployment.

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Re: Moggio on Inflation

Post by Civil_war »

I usually don't get involved in these things, but yeah that really is a stupid comment. Hyperinflation hit Germany following World War I to the extent that people were wall papering their houses with cash. I very much doubt anyone was doing that in the U.S. The economy is shit, and I'm sure the worst is yet to come, but hyperinflation doesn't just occur. It would take something far more serious than the housing bubble for that to happen. Say China dumped, then we'd be fucked.
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Re: Moggio on Inflation

Post by Turner Coates »

I don't know what Moggio is so concerned about.
I'm sure he doesn't have much paper money, although he may have about 50 bucks worth of gold.

Now, let's see....will my post get a "delusional", or a "straws" pic from him?

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Re: Moggio on Inflation

Post by Moggio »

DEATH ROW BLOW JOB wrote:
Moggio wrote:Hyperinflation occurred in the mid-late '70s and early '80s, dipshit.
There was nothing close to hyperinflation in the 70s. Hyperinflation is defined as a monthly rate of inflation over 50%. The monthly rate of inflation exceeded 1% a few times during the period you mention. You have no idea what hyperinflation is, dunce. Inflation was high during that time, annual rate of inflation was between 10-15% from March 79 to Nov 81. But nothing close to hyperinflation.

In 1956, Phillip Cagan wrote The Monetary Dynamics of Hyperinflation, generally regarded as the first serious study of hyperinflation and its effects. In it, he defined a hyperinflationary as starting in the month that the monthly inflation rate exceeds 50%, and it ending when the monthly inflation rate drops below 50% and stays that way for at least a year.Economists usually follow Cagan’s description that hyperinflation occurs when the monthly inflation rate exceeds 50%.
As usual, you continue to SPIN shit.

That's just his opinion because there is no absolute definition of an exact percentage of hyperinflation. Inflation was VERY high throughout the mid '70s - early '80s. MUCH higher than usual. :roll:
DEATH ROW BLOW JOB wrote:
Moggio wrote: And currently, since you can't print $100 BILLION per month and not have hyperinflation, hyperinflation is ALREADY here.
Gasoline is cheaper in 2013 than in 2012, 2011 and 2008. The rate of inflation in April was -.4%. There is monthly deflation, not inflation, let alone hyperinflation.
Moggio wrote: But since The Fed are MANIPULATING inflation rates at about 1.5% or less and interest rates at basically 0%, they're delaying the Currency/Treasuries Bubble from bursting...:roll:
That makes no sense dunce. The Fed is trying to generate inflation to reduce unemployment. They are not trying to keep inflation low right now. They are buying bonds because inflation is too low and they are required by law to generate inflation to reduce unemployment.
ONE. MORE. TIME. FOR. THE. WORLD.:

Currently, since you can't print $100 BILLION per month and not have hyperinflation, hyperinflation is ALREADY here. The Fed is ARTIFICIALLY manipulating the rate - which is why it's lower than it REALLY is. :roll:


...without further ado, BESTOWMENT #12...

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And the ARTIFICIAL recovery continues...
ONE NATION UNDER SOCIALISM

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Because of Obamination's spending & socialist BS, America and much of the world will endure one of the worst depressions in history in 5...4...3...2...
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Re: Moggio on Inflation

Post by Turner Coates »

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Re: Moggio on Inflation

Post by DEATH ROW JOE »

Moggio wrote:
As usual, you continue to SPIN shit.
Do you know what the word spin means? Apparently not.
Moggio wrote: That's just his opinion because there is no absolute definition of an exact percentage of hyperinflation.
Incorrect. 50% monthly rate of inflation is generally accepted by economists as the definition of hyperinflation.

ONE. MORE. TIME. FOR. THE. WORLD.:

In 1956, Phillip Cagan wrote The Monetary Dynamics of Hyperinflation, generally regarded as the first serious study of hyperinflation and its effects. In it, he defined a hyperinflationary as starting in the month that the monthly inflation rate exceeds 50%, and it ending when the monthly inflation rate drops below 50% and stays that way for at least a year.Economists usually follow Cagan’s description that hyperinflation occurs when the monthly inflation rate exceeds 50%.

But if you want a definition which does not draw a hard line at a specific percentage, here you go.

The International Accounting Standards Board does not establish an absolute rate at which hyperinflation is deemed to arise. Instead, it lists factors that indicate the existence of hyperinflation:

1) The general population prefers to keep its wealth in non-monetary assets or in a relatively stable foreign currency. Amounts of local currency held are immediately invested to maintain purchasing power
2) The general population regards monetary amounts not in terms of the local currency but in terms of a relatively stable foreign currency. Prices may be quoted in that currency;
3) Sales and purchases on credit take place at prices that compensate for the expected loss of purchasing power during the credit period, even if the period is short;
4) Interest rates, wages, and prices are linked to a price index; and
5) The cumulative inflation rate over three years approaches, or exceeds, 100%.

None of those conditions were present in the late 70s when you said hyperinflation occurred. They are not present now although you claim hyperinflation is occurring.

Moggio wrote: ONE. MORE. TIME. FOR. THE. WORLD.:

Currently, since you can't print $100 BILLION per month and not have hyperinflation, hyperinflation is ALREADY here. The Fed is ARTIFICIALLY manipulating the rate - which is why it's lower than it REALLY is. :roll:
ONE. MORE. TIME. FOR. THE. WORLD.:

1) The Fed is not printing money to contain hyperinflation. They are printing money to generate inflation.
2) The Fed is not printing 100 billion per month. Between Oct 2012 and April 2013, the Fed balance sheet grew 405.568 billion while excess reserves grew 350.559 billion. Which means during that 6 month period a total of 55 billion was printed or 9.1 billion a month.

Fed Assets:
http://www.clevelandfed.org/research/da ... /index.cfm
Oct 2012 2.785421 trillion
April 2013 3.190989 trillion = + 405.568 billion

Excess Reserves
http://research.stlouisfed.org/fred2/graph/?g=iX1
Oct 2013 1.418275 trillion
April 2013 1.768834 trillion = +350.559 billion

3) you are making a circular argument. You are creating your own personal definition of hyperinflation to support your claim that hyperinflation is taking place.

4) The latest numbers show deflation, not inflation, let alone hyperinflation.

http://www.bls.gov/

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Re: Moggio on Inflation

Post by Moggio »

DEATH ROW BLOW JOB wrote:
Moggio wrote:
As usual, you continue to SPIN shit.
Do you know what the word spin means? Apparently not.
As usual, you continue to deny SPINNING shit.
DEATH ROW BLOW JOB wrote:
Moggio wrote: That's just his opinion because there is no absolute definition of an exact percentage of hyperinflation.
Incorrect. 50% monthly rate of inflation is generally accepted by economists as the definition of hyperinflation.

ONE. MORE. TIME. FOR. THE. WORLD.:

That's just an opinion because there is no absolute definition of an exact percentage of hyperinflation.
DEATH ROW BLOW JOB wrote:None of those conditions were present in the late 70s when you said hyperinflation occurred. They are not present now although you claim hyperinflation is occurring.
Stop fucking around and grasping at straws, asshole. Inflation was MUCH higher than usual in the mid '70s to early '80s, regardless of the name to describe it. FACT.
DEATH ROW BLOW JOB wrote:
Moggio wrote: ONE. MORE. TIME. FOR. THE. WORLD.:

Currently, since you can't print $100 BILLION per month and not have hyperinflation, hyperinflation is ALREADY here. The Fed is ARTIFICIALLY manipulating the rate - which is why it's lower than it REALLY is. :roll:
ONE. MORE. TIME. FOR. THE. WORLD.:

1) The Fed is not printing money to contain hyperinflation.
I NEVER said that, asshole. :roll:
DEATH ROW BLOW JOB wrote:They are printing money to generate inflation.
2) The Fed is not printing 100 billion per month. Between Oct 2012 and April 2013, the Fed balance sheet grew 405.568 billion while excess reserves grew 350.559 billion. Which means during that 6 month period a total of 55 billion was printed or 9.1 billion a month.

Fed Assets:
http://www.clevelandfed.org/research/da ... /index.cfm
Oct 2012 2.785421 trillion
April 2013 3.190989 trillion = + 405.568 billion

Excess Reserves
http://research.stlouisfed.org/fred2/graph/?g=iX1
Oct 2013 1.418275 trillion
April 2013 1.768834 trillion = +350.559 billion

3) you are making a circular argument. You are creating your own personal definition of hyperinflation to support your claim that hyperinflation is taking place.

4) The latest numbers show deflation, not inflation, let alone hyperinflation.

http://www.bls.gov/

Image
http://demonocracy.info/infographics/us ... -2013.html

Have fun!


...without further ado, BESTOWMENT #12...

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...and the ARTIFICIAL recovery continues...
ONE NATION UNDER SOCIALISM

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Because of Obamination's spending & socialist BS, America and much of the world will endure one of the worst depressions in history in 5...4...3...2...
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Re: Moggio on Inflation

Post by DEATH ROW JOE »

Moggio wrote: Stop fucking around and grasping at straws, asshole. Inflation was MUCH higher than usual in the mid '70s to early '80s, regardless of the name to describe it. FACT.
LMFAO, were you even born then? You fucking moron. Everyone knows that inflation was high during the 70s. The fact that you think this is some special insight proves how ignorant you are. Pointing out that inflation was high in the 70s is about as insightful as pointing out that Zappa played guitar while having a discussion about Zappa.

Characterizing an annual rate of inflation of 14% as hyperinflation is simple ignorance. It does matter what name you use to describe the rate of inflation. Hyperinflation signifies a collapsing currency. Something that costs $1 today costs $200 after one year of hyperinflation.

Just own up to the fact that you used a word you did not understand and move on.
Moggio wrote: I NEVER said that, asshole. :roll:
Yes, you did. Dunce.
LMFAO, you can't be serious.

That's a joke of a website. For starters, they confuse monetary policy with fiscal policy when discussing how many people could be hired with a billion dollars created by the Fed. The Fed buys and sells bonds, creating and destroying dollars. They do not create a billion dollars and then hire someone to built a highway. That's fiscal policy. Monetary policy involves expanding and contracting credit. If inflation takes off, the Fed sells the bonds and destroys dollars. If they simply created a billion dollars and hired people directly to reduce unemployment, they would not be able to stabilize prices by selling bonds.

All the credit easing data is easily available on the Fed's website. I've posted the link a half dozen times. Relying on a site with BIG PICTURES to explain simple numbers further confirms how clueless you are.

Did you even read the page? That rubbish was written in 2012. There is one facebook comment from Oct 12, 2012, so it went up shortly after QE3 was announced. They are projecting what will take place in 2013 so the page can not possibly support your claim that the Fed is "printing 100 billion a month" in 2013. Total fail.

QUOTE from your ridiculous link:
Above is the projected Federal Reserve printing volume of dollars for 2013. Federal Reserve intends to print $1020 Billions ($1.02 Trillion) in 2013.

The site does not understand how the Fed "prints money" because buying 85 billion n in bonds is not printing 85 billion. The Fed creates reserves when it buys bonds. Unless the money is loaned out, money is not printed, the Fed is merely exchanging bonds for reserves.

Currency in circulation was 1.12989 trillion on Oct 1, 2012. Currency in circulation was 1.180391 trillion on May 1, 2013. That comes out to 50 billion printed during that time. The rest is sitting in banks as excess reserves and can not possibly generate inflation. Last post I estimated 55 billion was printed during this period. Actual number is a little lower, 50 billion.

Currency in circulation
http://research.stlouisfed.org/fred2/graph/?g=iZx

Growth in Fed's balance sheet - change in excess reserves = money printed.

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Re: Moggio on Inflation

Post by Moggio »

DEATH ROW BLOW JOB wrote:
Moggio wrote: Stop fucking around and grasping at straws, asshole. Inflation was MUCH higher than usual in the mid '70s to early '80s, regardless of the name to describe it. FACT.
LMFAO, were you even born then? You fucking moron. Everyone knows that inflation was high during the 70s. The fact that you think this is some special insight proves how ignorant you are. Pointing out that inflation was high in the 70s is about as insightful as pointing out that Zappa played guitar while having a discussion about Zappa.

Characterizing an annual rate of inflation of 14% as hyperinflation is simple ignorance. It does matter what name you use to describe the rate of inflation. Hyperinflation signifies a collapsing currency. Something that costs $1 today costs $200 after one year of hyperinflation.

Just own up to the fact that you used a word you did not understand and move on.
You cannot PROVE, nor will you PROVE that there is an absolute definition for hyperinflation. So, STFU, asshole.
DEATH ROW BLOW JOB wrote:
Moggio wrote: I NEVER said that, asshole. :roll:
Yes, you did. Dunce.
NO, I didn't. Stop putting words in my mouth, cocksucker.
DEATH ROW BLOW JOB wrote:
LMFAO, you can't be serious.

That's a joke of a website. For starters, they confuse monetary policy with fiscal policy when discussing how many people could be hired with a billion dollars created by the Fed. The Fed buys and sells bonds, creating and destroying dollars. They do not create a billion dollars and then hire someone to built a highway. That's fiscal policy. Monetary policy involves expanding and contracting credit. If inflation takes off, the Fed sells the bonds and destroys dollars. If they simply created a billion dollars and hired people directly to reduce unemployment, they would not be able to stabilize prices by selling bonds.

All the credit easing data is easily available on the Fed's website. I've posted the link a half dozen times. Relying on a site with BIG PICTURES to explain simple numbers further confirms how clueless you are.

Did you even read the page? That rubbish was written in 2012. There is one facebook comment from Oct 12, 2012, so it went up shortly after QE3 was announced. They are projecting what will take place in 2013 so the page can not possibly support your claim that the Fed is "printing 100 billion a month" in 2013. Total fail.

QUOTE from your ridiculous link:
Above is the projected Federal Reserve printing volume of dollars for 2013. Federal Reserve intends to print $1020 Billions ($1.02 Trillion) in 2013.

The site does not understand how the Fed "prints money" because buying 85 billion n in bonds is not printing 85 billion. The Fed creates reserves when it buys bonds. Unless the money is loaned out, money is not printed, the Fed is merely exchanging bonds for reserves.

Currency in circulation was 1.12989 trillion on Oct 1, 2012. Currency in circulation was 1.180391 trillion on May 1, 2013. That comes out to 50 billion printed during that time. The rest is sitting in banks as excess reserves and can not possibly generate inflation. Last post I estimated 55 billion was printed during this period. Actual number is a little lower, 50 billion.

Currency in circulation
http://research.stlouisfed.org/fred2/graph/?g=iZx

Growth in Fed's balance sheet - change in excess reserves = money printed.
1. The site in question is not confusing anything. It's laid out perfectly. But I'm not surprised you don't understand the difference between the reality provided and realistic examples given to further their points. YOU are the one who PERPETUALLY confuses, with your LIES, SPINS, and manipulative data.

2. Just because the site in question includes BIG pictures that help illustrate their points, doesn't necessarily mean they're incorrect. If that were automatically true, then your own posting history should be considered OBSOLETE.

3. I'm perfectly aware that most of the site in question, if not all of it, was constructed during 2012. But that just goes to show you how accurate their predictions were considering that the Fed IS now printing $100 BILLION per month, regardless if a percentage of it is relating to bonds. QE4 is imminent...

4. As ALWAYS, you are full of shit because you certainly did not read the entire site. There's no way you could've read all of that in 1 hour. At best, you skimmed over it and drew your BS Keynesian conclusions that ultimately don't mean SHIT. And that's not only because you have ZERO credibility, but also because you are almost NEVER correct.

5. Go fuck yourself.


Without further ado, BESTOWMENT #17...

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...and the ARTIFICIAL recovery continues...
ONE NATION UNDER SOCIALISM

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Because of Obamination's spending & socialist BS, America and much of the world will endure one of the worst depressions in history in 5...4...3...2...
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Re: Moggio on Inflation

Post by CliffByford »

LOL at Monggolio's ongoing struggle with education. I think he's winning!
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Re: Moggio on Inflation

Post by Moggio »

CliffByford wrote:LOL at Monggolio's ongoing struggle with education. I think he's winning!
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Re: Moggio on Inflation

Post by CliffByford »

It's no use. You are a stupid, arrogant man-child. A whole lecture theatre of Nobel laureates could not persuade you to reconsider the ridiculous, dogmatic and contrarian stance you've opted to defend. You don't listen to reason, never stop to reconsider your opinions when presented with information that contradicts your beliefs and resort to ad hominem slurs once your position becomes irrevocably untenable.

It's plain to see that you don't even understand fundamentals of topics such as economics, politics or even music theory. It's sad to see, really. You're so puffed up with your self-importance that you probably can't even begin to comprehend how clownish you appear to everyone else. How about going away and wood-shedding on some good, solid political theory, and actually put yourself in a position to grasp the concepts you defend or attack? You would be embarrassed by the stuff you parrot if you had an iota of knowledge and, crucially, self-awareness.
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Re: Moggio on Inflation

Post by KneelandBobDylan »

CliffByford wrote:It's no use. You are a stupid, arrogant man-child. A whole lecture theatre of Nobel laureates could not persuade you to reconsider the ridiculous, dogmatic and contrarian stance you've opted to defend. You don't listen to reason, never stop to reconsider your opinions when presented with information that contradicts your beliefs and resort to ad hominem slurs once your position becomes irrevocably untenable.

It's plain to see that you don't even understand fundamentals of topics such as economics, politics or even music theory. It's sad to see, really. You're so puffed up with your self-importance that you probably can't even begin to comprehend how clownish you appear to everyone else. How about going away and wood-shedding on some good, solid political theory, and actually put yourself in a position to grasp the concepts you defend or attack? You would be embarrassed by the stuff you parrot if you had an iota of knowledge and, crucially, self-awareness.


This is how it'll play out Cliff...Monggio will come in with a "I know you are, but what am I" rebuttal, then he's going to post that straws pic.


So predictable.
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Re: Moggio on Inflation

Post by Moggio »

KneelandBobDylan wrote:
CliffByford wrote:It's no use. You are a stupid, arrogant man-child. A whole lecture theatre of Nobel laureates could not persuade you to reconsider the ridiculous, dogmatic and contrarian stance you've opted to defend. You don't listen to reason, never stop to reconsider your opinions when presented with information that contradicts your beliefs and resort to ad hominem slurs once your position becomes irrevocably untenable.

It's plain to see that you don't even understand fundamentals of topics such as economics, politics or even music theory. It's sad to see, really. You're so puffed up with your self-importance that you probably can't even begin to comprehend how clownish you appear to everyone else. How about going away and wood-shedding on some good, solid political theory, and actually put yourself in a position to grasp the concepts you defend or attack? You would be embarrassed by the stuff you parrot if you had an iota of knowledge and, crucially, self-awareness.


This is how it'll play out Cliff...Monggio will come in with a "I know you are, but what am I" rebuttal, then he's going to post that straws pic.


So predictable.
POT. KETTLE. BLACK.

Are you fucking kidding me?!

I ALWAYS back my shit up with either compelling evidence or FACTS. And that's after PLENTY of research before coming to the conclusions I do. I do NOT pontificate. Shitheads like YOU TWO are the ones throwing ad-hominems at me, while clearly ignoring pertinent info, NOT the opposite. You fuckheads couldn't construct a convincing argument to the contrary to save your life, nor will you. :roll:

You may now return to the sidelines, which is where you cocksuckers belong...

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Re: Moggio on Inflation

Post by CliffByford »

Monggolio, why is it that nobody agrees with you? Have you stopped to consider that? And please, don't trot out the old 'confederacy of dunces' line.

You use ideology as a proxy for critical enquiry - the true mark of an imbecile.
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Re: Moggio on Inflation

Post by Moggio »

Grendel wrote:
CliffByford wrote:It's no use. You are a stupid, arrogant man-child. A whole lecture theatre of Nobel laureates could not persuade you to reconsider the ridiculous, dogmatic and contrarian stance you've opted to defend. You don't listen to reason, never stop to reconsider your opinions when presented with information that contradicts your beliefs and resort to ad hominem slurs once your position becomes irrevocably untenable.

It's plain to see that you don't even understand fundamentals of topics such as economics, politics or even music theory. It's sad to see, really. You're so puffed up with your self-importance that you probably can't even begin to comprehend how clownish you appear to everyone else. How about going away and wood-shedding on some good, solid political theory, and actually put yourself in a position to grasp the concepts you defend or attack? You would be embarrassed by the stuff you parrot if you had an iota of knowledge and, crucially, self-awareness.
FUCKING OWNED!!!!
ONE. MORE. TIME. FOR. THE. WORLD.:

POT. KETTLE. BLACK.

Are you fucking kidding me?!

I ALWAYS back my shit up with either compelling evidence or FACTS. And that's after PLENTY of research before coming to the conclusions I do. I do NOT pontificate. Shitheads like YOU TWO are the ones throwing ad-hominems at me, while clearly ignoring pertinent info, NOT the opposite. You fuckheads couldn't construct a convincing argument to the contrary to save your life, nor will you. :roll:

You may now return to the sidelines, which is where you cocksuckers belong...

Image[/quote]
CliffByford wrote:Monggolio, why is it that nobody agrees with you? Have you stopped to consider that? And please, don't trot out the old 'confederacy of dunces' line.

You use ideology as a proxy for critical enquiry - the true mark of an imbecile.
So because morons like you don't agree with me, that automatically means I'm wrong?! What logic!

God, you're a fucking idiot.
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Re: Moggio on Inflation

Post by Turner Coates »

You're fucking cRaZy.
Loony....bonkers....nutzo!

The breadth of your field of vision is the distance between your googly eyes.

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