tag:blogger.com,1999:blog-6616959642391988608.post4490442398067314889..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: 100 years of inflationScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-6616959642391988608.post-45424010601434874662009-12-18T11:18:44.318-08:002009-12-18T11:18:44.318-08:00Greg: I don't have the inflation data for the ...Greg: I don't have the inflation data for the 1800s handy.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-78900547604979695552009-12-17T16:06:54.127-08:002009-12-17T16:06:54.127-08:00Can you do a similar chart for the 1800s? I have r...Can you do a similar chart for the 1800s? I have read that inflation was relatively low and less volatile. For most (or all?) of the century, private banks issued their own money. I guess competition was a very good regulator.<br /><br />Unfortunately, the Feds started piling more and more regulation upon the banks' issuing of money, and, as they say, the rest is history.Greghttps://www.blogger.com/profile/09243085763869983526noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-44745138956226098572009-12-14T16:00:41.718-08:002009-12-14T16:00:41.718-08:00Mr. Grannis:
Love the blackboard pricing story, w...Mr. Grannis:<br /><br />Love the blackboard pricing story, with each isle with its own blackboard, and prices changing hourly/daily. That’s classic!<br /><br />Tell you what, when inflation returns, you know, that funny vibration/sound you can hear coming from the economic railroad tracks…....we can collaborate on the “catch phrase” for the new Inflation phenomena: Sticky Blackboard Inflation.W.E. Heasleyhttps://www.blogger.com/profile/00368333904571061995noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-11017002436402220072009-12-14T13:53:17.600-08:002009-12-14T13:53:17.600-08:00I was fortunate to witness first-hand what hyperin...I was fortunate to witness first-hand what hyperinflation was like, during a trip to Argentina in the mid-1980s. The stores had blackboards on each aisle, and prices were changed frequently during the day. In one three-week period, the price level rose 250% (not annualized).Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-16671519732551585332009-12-14T13:27:24.258-08:002009-12-14T13:27:24.258-08:00Mr. Grannis.
“The Fed can (and usually does) blam...Mr. Grannis.<br /><br />“The Fed can (and usually does) blame unwanted or volatile inflation on external factors beyond their control, but ultimately the Fed bears the responsibility for the level and variability of inflation.”<br /><br />Of course they do. They know very well its Demand Pull Inflation yet somehow they can’t bring themselves to take the blame.<br /><br />In the 1970’s many W.E. Heasleyhttps://www.blogger.com/profile/00368333904571061995noreply@blogger.com