Home > The Economy, Uncategorized > Fact of the day: lower inflation in the USA

Fact of the day: lower inflation in the USA

December 25, 2011 Leave a comment Go to comments

from Merijn Knibbe

According to the “GROSS DOMESTIC PRODUCT: THIRD QUARTER 2011 (THIRD ESTIMATE)”, which publishes the broad based price index for gross domestic putchases,  inflation of the price level (not just consumer prices) in the USA is declining:

“The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 2.0 percent in the third quarter, 0.1 percentage point more than the second estimate; this index increased 3.3 percent in the second quarter. Excluding food and energy prices, the price index for gross domestic purchases increased 1.8 percent in the third quarter, compared with an increase of 2.7 percent in the second”

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Categories: The Economy, Uncategorized
  1. s h a r o n
    December 25, 2011 at 8:33 pm | #1
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    Must read:
    Jeffrey D. Sachs, “The Price of Civilization” (Random House 2011). This needs folks who are savvy regarding economics and boast a streak of skepticism. Wish you folks would discuss it.

  2. Helge Nome
    December 26, 2011 at 3:14 am | #2
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    This note appears in the article referred to above:

    “NOTE.–Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise
    specified. Quarter-to-quarter dollar changes are differences between these published estimates. Percent
    changes are calculated from unrounded data and are annualized. “Real” estimates are in chained (2005)
    dollars. Price indexes are chain-type measures.”

    Based on all the manipulations of the data, how much credence can be given to percentage figures quoted?

  3. Michael Monterey
    December 26, 2011 at 3:47 am | #3
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    Thanks Sharon. I wish we could instigate some serious consideration & discussion of the difference between Grotesque Devolutionary Perversion and Green Domestic Success or General Domestic Happiness. The price of civilization is a prime topic for economic study, but all civilizations are not alike — far from it.

    Then the question should be: “Will economists grow cojones and start recognizing the differences between civilizations that are mostly corrupted (predominantly malignant) and those that are mostly benign (relatively green & sustainable).

    So, until they express a collective will to address the reality and denounce the consequences of corruption and systematic subversion of the economy by plutocrats, plutonomists will lack the fundamental grounding in ethics and real world psychology essential to real economics theory and practice.

    Right?

  4. Michael Monterey
    December 26, 2011 at 3:58 am | #4
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    When asked, “Mr. Gandhi, what do you think of Western civilization?” Gandhi replied, “I think it would be a very good idea.”

  5. Michael Monterey
    December 26, 2011 at 4:04 am | #5
    Reply | Quote

    To review the Fundamental Theory of Economics & Natural Values, go to > http://mm-greenbook.blogspot.com/p/awareness-value.html < NOTE: Your comments will earn you Green Credit units. Please review The Greenbook contents via the posts on the Home Page for more info on the Green Community Credit System and join the Facebook group with the same name. Thanks & Blessings

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