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Thursday 261022

  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 10 Money and Prices in the Long Run Chapter 29 of 36 Money Growth and Inflation Section 17 of 27 … Why is inflation considered a problem? After all, the rate of rising nominal incomes tend to match the rate of rising prices. Economists have identified several costs of inflation · shoe leather costs · menu costs · inflation-induced tax distortions · confusion and inconvenience · arbitrary redistribution of wealth All create relative price variability and misallocation of resources. … Shoe leather costs Because inflation erodes the value of the money you hold in your checking account you can avoid the inflation tax by holding less money there. One way to do this is to travel to or contact the bank more often and rather than withdrawing $400 every four weeks you might withdraw $100 once a week and spend it immediately. By making more frequent trips to and contact with the bank you can keep more of your wea...
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Wednesday 261020

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  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 10 Money and Prices in the Long Run Chapter 30 of 36 Money Growth and Inflation Section 16 of 27 … One study found in U.S. newspapers inflation is the economic term most often mentioned, far ahead of second place unemployment and third productivity. Inflation is widely discussed because it is considered to be a serious economic problem. Is that true? And if so, why? The typical person will say the answer is obvious: Inflation reduces the purchasing power of his dollars, so when prices rise, each of his dollars buys fewer goods. So, it seems inflation directly lowers living standards. … But there is a fallacy in this answer. When prices rise buyers of goods pay more and at the same time sellers of goods get more. Because most people earn their incomes by selling their labor people also are sellers, and firms are buyers. Inflation of incomes goes together with inflation of prices of goods. So, inflation ...
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Tuesday 261020

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  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 10 Money and Prices in the Long Run Chapter 29 of 36 Money Growth and Inflation Section 15 of 27 … Mostly from article: Volcker’s Handling of the Great Inflation Taught Us Much. William Poole President and CEO, Federal Reserve Bank of St. Louis, January 2005 On October 6, 1979, Fed Chairman Paul Volcker took dramatic steps, greatly increasing interest rates, to rein in the runaway inflation that had been sapping the strength of our economy since the mid-1960s. Volcker was Chairman of the Federal Reserve System (the Fed) from August 1979 to August 1987. … Without his bold change in monetary policy and his determination to stick with it through several painful recession years, the U.S. economy would have continued its downward spiral. By reversing the misguided policies of his predecessors, Volcker set the table for the long economic expansions of the 1980s and 1990s. …. How bad was the period of the Grea...
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Monday 261019

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  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 10 Money and Prices in the Long Run Chapter 29 of 36 Money Growth and Inflation Section 14 of 29 … The principle of monetary neutrality states: · an increase in the rate of money growth · raises the rate of inflation · but does not affect any real variable, e.g. amount of goods produced Interest rates link the present economy and the future economy through effects on saving and investment. The nominal interest rate is the interest rate announced at your bank. It tells you how much the number of dollars in your savings account will increase per year because of interest earned by it. … The real interest rate corrects the nominal interest rate for inflation. It tells you how much the purchasing power of your savings account will increase per year. The real interest rate is the nominal interest rate minus the inflation rate. Real interest rate = nominal interest rate - inflation rate. If your bank · pays a ...
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Scot and Fumiko pictures and information

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  Fumiko Scot's information: Weight at 166 pounds, got to 160 pounds five years ago and have recently been bouncing between 163 and 168. Common sense ways to lose and keep off weight are eat right and light and get lots of exercise. Main exercise is walking, do 1~2 miles most days. Over career worked as a salesman in the steelmaking, fasteners, and auto manufacturing industries, lots of travel in U.S., Canada, Mexico, and Japan. Have visited every U.S. city with a major league, MLB, NFL, NBA, NHL, sports team except Sacramento, have gotten as close as Travis Air Force Base. Often traveled on Sundays, much time on the road so could not eat right and get enough exercise so got heavy, up to 200 lbs. Was on commission and made enough to retire early, able eat good food and get enough exercise. Now spend most time reading and writing. Our Wick branch goes back to the brother of owner of the Wick House at Morristown National Historical Park in Morristown New Jersey, and on back to Staine...
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HAT Manifesto Part 1 of 2 Rubric Cube Veracity and or Efficacy - 260802 edit

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  “The world we see that seems so insane is the result of a belief system that is not working. To perceive the world differently, we must be willing to change our belief system, let the past slip away, expand our sense of now, and dissolve the fear in our minds.” - William James “All experience has shown mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed.” - Thomas Jefferson “Wherever good fortune enters, envy lays siege and attacks it. And when it departs, sorrow and repentance remain behind.” - Leonardo da Vinci “Struggle is the indispensable accompaniment of progress. If men were entirely social, man would stagnate. A certain alloy of individualism and competition is required to make the human species survive and grow. Without qualities of an unsocial kind men might have led an Arcadian shepherd life in complete harmony, contentment, and mutual love. But in that case all their talents wou...
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