http://www.westegg.com/inflation/
Put in what your gross salary was in 2000, or 2002 vs. the latest year you can enter, and see what your money was worth then vs. now.
Prepare to be upset, as I was, especially if you haven't seen a raise, or even got a cut in salary since the earlier date.
Showing posts with label The Federal Reserve. Show all posts
Showing posts with label The Federal Reserve. Show all posts
24 February 2011
Someone at the Fed has been reading LewRockwell.com!
...probably not. But it does sound like (too late) the most internally critical Fed Bank President has taken an Austrian economic stance on Fed policy:
"A top Federal Reserve official Wednesday said the U.S. central bank was risking a new financial crisis with its easy-money policies and urged regulators to break up the biggest banks.
HOENIG SAYS U.S. HAS `DEEPLY' UNDERMINED FREE-MARKET CAPITALISM
HOENIG WARNS OF ESCALATING SERIES OF CRISES WITH RISING COSTS
HOENIG: LARGE FINANCIAL FIRMS CAN EXPECT BAILOUTS IN FUTURE
HOENIG SAYS BIG FINANCIAL FIRMS MUST NOT HOLD ECONOMY `HOSTAGE'
HOENIG:BIG FIRMS `HAVE SIGNIFICANT INCENTIVES' TO INCREASE RISK
HOENIG: TOO-BIG-TO-FAIL FIRMS POSE `GREATEST RISK' TO ECONOMY
HOENIG: LARGE FIRMS WERE `GAMING' CAPITAL STANDARDS PRE-CRISIS
HOENIG SAYS BIG FINANCIAL FIRMS ENJOY `HUGE' FUNDING ADVANTAGE
UPDATE: Yesterday I got one hit from the Federal Reserve in Kansas City; so now I can legitimately claim:
"Someone at the Fed has been reading the Bonnie Blue Blog."
"A top Federal Reserve official Wednesday said the U.S. central bank was risking a new financial crisis with its easy-money policies and urged regulators to break up the biggest banks.
Kansas City Federal Reserve Bank President Thomas Hoenig, one of the Fed's most outspoken internal critics, warned monetary policy should be tailored "so you don't overshoot and cause the next crisis."
Same story as reported at ZeroHedge.com:
UPDATE: Yesterday I got one hit from the Federal Reserve in Kansas City; so now I can legitimately claim:
"Someone at the Fed has been reading the Bonnie Blue Blog."
10 January 2011
Fed's policy favors the rich, the poor languish.
I don't know about y'all, but I don't have any extra cash lying around to spread around Saks, Nordstrom, and Tiffany's.
"There is a telling detail in the US retail chain store data for December. Stephen Lewis from Monument Securities points out that luxury outlets saw an 8.1pc rise from a year ago, but discount stores catering to America’s poorer half rose just 1.2pc.
"There is a telling detail in the US retail chain store data for December. Stephen Lewis from Monument Securities points out that luxury outlets saw an 8.1pc rise from a year ago, but discount stores catering to America’s poorer half rose just 1.2pc.
Tiffany’s, Nordstrom, and Saks Fifth Avenue are booming. Sales of Cadillac cars have jumped 35pc, while Porsche’s US sales are up 29pc.
Cartier and Louis Vuitton have helped boost the luxury goods stock index by almost 50pc since October. Yet Best Buy, Target, and Walmart have languished.
Such is the blighted fruit of Federal Reserve policy. The Fed no longer even denies that the purpose of its latest blast of bond purchases, or QE2, is to drive up Wall Street, perhaps because it has so signally failed to achieve its other purpose of driving down borrowing costs."
From Ambrose Evans-Pritchard of The Telegraph in the United Kingdom.
I thought of this quote when I was reading the article:
Stephen: [to William Wallace] "God tells me he can get me out of this mess, but he's pretty sure you're fucked."
Austrian economic interpretation:
Those with cash would rather have tangible goods than hold onto cash that will lose it's value secondary to impending inflation.
Productive elements in society cannot hire workers secondary to lack of orders or capital (minimal lending from banks, tighter controls on lending) to expand business.
Such is the blighted fruit of Federal Reserve policy. The Fed no longer even denies that the purpose of its latest blast of bond purchases, or QE2, is to drive up Wall Street, perhaps because it has so signally failed to achieve its other purpose of driving down borrowing costs."
From Ambrose Evans-Pritchard of The Telegraph in the United Kingdom.
I thought of this quote when I was reading the article:
Stephen: [to William Wallace] "God tells me he can get me out of this mess, but he's pretty sure you're fucked."
Austrian economic interpretation:
Those with cash would rather have tangible goods than hold onto cash that will lose it's value secondary to impending inflation.
Productive elements in society cannot hire workers secondary to lack of orders or capital (minimal lending from banks, tighter controls on lending) to expand business.
28 December 2010
30 October 2010
Two excellent blogposts to check out.
This may be old school to some of you, but since this blog is new to me, maybe you've never seen it either.
www.zerohedge.com
Zerohedge is written by Tyler Durden (the character name from the movie The Fight Club). His articles are also seen on seekingalpha.com.
This guy blogs so often, it makes my head swim. He is really smart, and very well informed.
Of particular interest to those of you who have been watching our wealth drain away by out of control government spending and purposeful devaluation of our dollars (read: I make the same salary, but my money doesnt go as far), check out this blogpost of his dated the 27th, but linked to today at lewrockwell.com:
http://www.zerohedge.com/article/paralyzed-fed-defers-decision-monetary-policy-primary-dealers
This one blew my mind. Between the election and the Fed meeting next week, we are truly witnessing significant history in the making.
Also at lewrockwell.com is an article today by Gary North, who has a knack for explaining complex economic issues in plain English. I really enjoy his articles. He has many great posts archived at LRC.
Today's entry is an article called "The Police State is doomed".
Great stuff, enjoy.
www.zerohedge.com
Zerohedge is written by Tyler Durden (the character name from the movie The Fight Club). His articles are also seen on seekingalpha.com.
This guy blogs so often, it makes my head swim. He is really smart, and very well informed.
Of particular interest to those of you who have been watching our wealth drain away by out of control government spending and purposeful devaluation of our dollars (read: I make the same salary, but my money doesnt go as far), check out this blogpost of his dated the 27th, but linked to today at lewrockwell.com:
http://www.zerohedge.com/article/paralyzed-fed-defers-decision-monetary-policy-primary-dealers
This one blew my mind. Between the election and the Fed meeting next week, we are truly witnessing significant history in the making.
Also at lewrockwell.com is an article today by Gary North, who has a knack for explaining complex economic issues in plain English. I really enjoy his articles. He has many great posts archived at LRC.
Today's entry is an article called "The Police State is doomed".
Great stuff, enjoy.
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