Post by recklessjack on Oct 17, 2006 18:31:06 GMT -5
*The following happened in an AIM Chat*
SethMcMahon694Eva: sup
RecklessJackFanBoy: Nothing...
IdontTALKaboutWRESTLINGblades: Just thinking about Reganomics
JimOnHisLaptop: Heh
CreamingDeath1: Heh*
ICan'tScore: Why am I here?
ICan'tScore has left the room
JimOnHisLaptop: Someone get that stoner in here
CreamingDeath1: Heh
JimOnHisLaptop: Heh*
CreamingDeath1:
SethMcMahon694Eva: Banned
CreamingDeath1: FUCK
RecklessJackFanBoy: Hey guys, what do you think about Slam this week?
WCFGod has entered the room
WCFGod: SHUT UP! BOUDLES!!!
IdontTALKaboutWRESTLINGblades: Hey, do you know anything about Reganomics
WCFGod: SHUT UP! BOUDLE!
SethMcMahon694Eva: lol, RJ pooped his pants
RecklessJackFanBoy: No he didn't
CreamingDeath1: Heh
JimOnHisLaptop: Heh*
Creaming Death:
Stonersrule has entered the room
Stonersrule: I'm high right now, lol, jk, but yeeah Im stoned right now
WCFGod: SHUT UP!
JimOnHisLaptop: Lol, RJ is a fag
RecklessJackFanBoy: Is not!
SethMcMahon694Eva: Banned for no reason
Stonersrule: Im gonn get stond and play poker
IdontTALKaboutWRESTLINGblades: Supply-siders advocate that monetary policy should be based on a price rule. The aim of monetary policy should be to target a specific value of money irrespective of the quantity of money that must be created or withdrawn by the central bank to achieve this target. This contrasts with monetarism's focus on the quantity of money, and Keynesian theory's emphasis on real aggregate demand. The important difference is that to a monetarist the quantity of money, specifically represented by the money supply is the crucial determining variable for the relationship between the supply and demand for money, while to a Keynesian adequate demand to support the available money supply is important. Keynes famously remarked that "money doesn't matter". This is an area where supply-side theory has been particularly influential. Under macroeconomic theory, the general level of price was based on the strict increase in price of a basket of goods. Under supply-side theory, the rate of inflation should be based on the substitutions that individuals make in the market place, and should take into account the improved quality of goods. In the late 1980s and through the 1990s, under Presidents of both American political parties, shifts were made in the calculation of the broadly followed measure of inflation the "Consumer Price Index for Urban Consumers", or CPI-W, which reflected supply-side ideas on substitution. The argument for factoring in goods quality was not accepted, which has led supply-side economists to claim that the real CPI is actually between .5% and 1% lower than the stated rate. This area represents one of the points of contention between conservative economic theorists who argue for a quantity of money theory of inflation, including Austrian economics, many strict gold standard economists and traditional monetarists, and supply-side theorists. According to the increases in money supply during the 1990s, the real rate of inflation must be higher than is currently stated. These economists argue that the cost of housing is understated in the CPI-W, and that the inflation rate should be between .5% and 1% higher. It is for this reason that many central bankers, investment analysts and economists follow the GDP deflator which measures the total output of the society and the prices paid for all goods, not merely consumer goods. Typically, supply-siders view gold as the best unit of account with which to measure the price of fiat money, which is defined as a money supply not directly limited by specie or hard assets. Hence the purest supply-siders are in general advocates of a gold standard. However the reverse is not true; many gold standard advocates are harsh critics of supply-side economics. Supply-side economists assert that the value of money is purely dictated by the supply and demand for money. In fiat money system the government has a legislated monopoly on the supply of base money. Hence it has complete control over the value of money. Any decline in the value of money (or appreciation) is hence viewed as the result of errant central bank policy.
CreamingDeath1: Shut the fuck up!!! Talk about wrestling, god.
WCFGod: WHAT DO YOU WANT WITH ME BOUDLE?!
SethMcMahon694Eva: lol
RecklessJackFanBoy: Anyone hear about Ring of Honor?
Stonersrule: I am so high right now.
Tailpipesrule has entered the room
Tailpipesrule: So I was jerking off to Car and Driver today.
JimOnHisLaptop: Shut up, loser.
Tailpipesrule: Have you seen the new Mustang, it made me cum.
SethMcMahon694Eva: hawt
CreamingDeath1: ...
RecklessJackFanBoy: I hate you all, I fucking quit this piece of shit fed and chat.
RecklessJackFanBoy has left the room
RecklessJackFanBoy has entered the room
RecklessJackFanBoy: I changed my mind
RecklessJackFanBoy: I am staying in WCF
CreamingDeath1: MAKE UP YOUR MIND EMO BOY!
JimOnHisLaptop: lol
CreamingDeath1: Heh
JimOnHisLaptop: Heh*
CreamingDeath1:
SethMcMahon694Eva: Banned for the rest of time.
RecklessJackFanBoy: Wow, Seth sucks dick
CreamingDeath1: Can't deny that.
SethMcMahon694Eva: Reckless Jack is banned
RecklessJackFanBoy: What for?
SethMcMahon694Eva: you know why
You have been kicked out the chat
SethMcMahon694Eva: sup
RecklessJackFanBoy: Nothing...
IdontTALKaboutWRESTLINGblades: Just thinking about Reganomics
JimOnHisLaptop: Heh
CreamingDeath1: Heh*
ICan'tScore: Why am I here?
ICan'tScore has left the room
JimOnHisLaptop: Someone get that stoner in here
CreamingDeath1: Heh
JimOnHisLaptop: Heh*
CreamingDeath1:
SethMcMahon694Eva: Banned
CreamingDeath1: FUCK
RecklessJackFanBoy: Hey guys, what do you think about Slam this week?
WCFGod has entered the room
WCFGod: SHUT UP! BOUDLES!!!
IdontTALKaboutWRESTLINGblades: Hey, do you know anything about Reganomics
WCFGod: SHUT UP! BOUDLE!
SethMcMahon694Eva: lol, RJ pooped his pants
RecklessJackFanBoy: No he didn't
CreamingDeath1: Heh
JimOnHisLaptop: Heh*
Creaming Death:
Stonersrule has entered the room
Stonersrule: I'm high right now, lol, jk, but yeeah Im stoned right now
WCFGod: SHUT UP!
JimOnHisLaptop: Lol, RJ is a fag
RecklessJackFanBoy: Is not!
SethMcMahon694Eva: Banned for no reason
Stonersrule: Im gonn get stond and play poker
IdontTALKaboutWRESTLINGblades: Supply-siders advocate that monetary policy should be based on a price rule. The aim of monetary policy should be to target a specific value of money irrespective of the quantity of money that must be created or withdrawn by the central bank to achieve this target. This contrasts with monetarism's focus on the quantity of money, and Keynesian theory's emphasis on real aggregate demand. The important difference is that to a monetarist the quantity of money, specifically represented by the money supply is the crucial determining variable for the relationship between the supply and demand for money, while to a Keynesian adequate demand to support the available money supply is important. Keynes famously remarked that "money doesn't matter". This is an area where supply-side theory has been particularly influential. Under macroeconomic theory, the general level of price was based on the strict increase in price of a basket of goods. Under supply-side theory, the rate of inflation should be based on the substitutions that individuals make in the market place, and should take into account the improved quality of goods. In the late 1980s and through the 1990s, under Presidents of both American political parties, shifts were made in the calculation of the broadly followed measure of inflation the "Consumer Price Index for Urban Consumers", or CPI-W, which reflected supply-side ideas on substitution. The argument for factoring in goods quality was not accepted, which has led supply-side economists to claim that the real CPI is actually between .5% and 1% lower than the stated rate. This area represents one of the points of contention between conservative economic theorists who argue for a quantity of money theory of inflation, including Austrian economics, many strict gold standard economists and traditional monetarists, and supply-side theorists. According to the increases in money supply during the 1990s, the real rate of inflation must be higher than is currently stated. These economists argue that the cost of housing is understated in the CPI-W, and that the inflation rate should be between .5% and 1% higher. It is for this reason that many central bankers, investment analysts and economists follow the GDP deflator which measures the total output of the society and the prices paid for all goods, not merely consumer goods. Typically, supply-siders view gold as the best unit of account with which to measure the price of fiat money, which is defined as a money supply not directly limited by specie or hard assets. Hence the purest supply-siders are in general advocates of a gold standard. However the reverse is not true; many gold standard advocates are harsh critics of supply-side economics. Supply-side economists assert that the value of money is purely dictated by the supply and demand for money. In fiat money system the government has a legislated monopoly on the supply of base money. Hence it has complete control over the value of money. Any decline in the value of money (or appreciation) is hence viewed as the result of errant central bank policy.
CreamingDeath1: Shut the fuck up!!! Talk about wrestling, god.
WCFGod: WHAT DO YOU WANT WITH ME BOUDLE?!
SethMcMahon694Eva: lol
RecklessJackFanBoy: Anyone hear about Ring of Honor?
Stonersrule: I am so high right now.
Tailpipesrule has entered the room
Tailpipesrule: So I was jerking off to Car and Driver today.
JimOnHisLaptop: Shut up, loser.
Tailpipesrule: Have you seen the new Mustang, it made me cum.
SethMcMahon694Eva: hawt
CreamingDeath1: ...
RecklessJackFanBoy: I hate you all, I fucking quit this piece of shit fed and chat.
RecklessJackFanBoy has left the room
RecklessJackFanBoy has entered the room
RecklessJackFanBoy: I changed my mind
RecklessJackFanBoy: I am staying in WCF
CreamingDeath1: MAKE UP YOUR MIND EMO BOY!
JimOnHisLaptop: lol
CreamingDeath1: Heh
JimOnHisLaptop: Heh*
CreamingDeath1:
SethMcMahon694Eva: Banned for the rest of time.
RecklessJackFanBoy: Wow, Seth sucks dick
CreamingDeath1: Can't deny that.
SethMcMahon694Eva: Reckless Jack is banned
RecklessJackFanBoy: What for?
SethMcMahon694Eva: you know why
You have been kicked out the chat
