Australian Politics Forum - Go you old thing

deepthought

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Re: Go you old thing
Reply #60 - May 20^th, 2008 at 6:02pm

freediver wrote on May 20^th, 2008 at 5:50pm:

Whether wages rise or fall in Australia is irrelevant and has no impact on the CPI other than a contributory affect on the 'basket of goods'.

You are wrong Deepy. We were talking about inflation, not the reserve bank CPI. That CPI, and the 'wage index', are both attempts to measure the same thing - inflation. The only difference is the inaccuracies involved. A truly representative 'basket of goods' and a truly representative 'wage index' would be mearurements of the same thing.

Like I said, this is very basic macroeconomics. You cannot get away with pretending to understand this.

As it is clear you don't understand this very simple fact and are unlikely to without getting an education in economics perhaps you would answer the question you keep so obviously scurrying from.

Quote:

But it is odd you say that anyway. If there are 'inflationary inducing' "wage increases, driven by people making lots of money" how does this fit with the usual leftard model of people being far worse off under WorkChoices? Who is making all this money you speak of when the leftards are saying everyone is worse off?

Please explain how the story changes to suit your partisan viewpoint.

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freediver Gold Member Online www.ozpolitic.com Posts: 47563 At my desk.	Re: Go you old thing Reply #61 - May 20^th, 2008 at 6:03pm Deepthought I have an education in economics - at least enough to cover the simple stuff being discussed here. Do you?
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lapaz62

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Re: Go you old thing
Reply #62 - May 20^th, 2008 at 6:09pm

I knew it wouldnt be long before you had to tell someone how educated you are, dont resort to that, anyway didnt these pensioners ever hear of superannuation, most of them bought a house for 30 grand, have been on the pension longer than they worked for, if you didnt save, bad luck. My father never had a good job but still managed to put enough away for retirement.

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freediver

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Re: Go you old thing
Reply #63 - May 20^th, 2008 at 6:12pm

Trust me lapaz, I have held off for as long as I possibly could, but there is only so long you can put up with someone who doesn't even have the most basic understanding of economics pretending they know what they are talking about and that you don't. It's like a backyard mechanic who thinks he has invented a perpetual motion machine pretending to understand thermodynamics.

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deepthought

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Re: Go you old thing
Reply #64 - May 20^th, 2008 at 6:19pm

freediver wrote on May 20^th, 2008 at 6:03pm:

Deepthought I have an education in economics - at least enough to cover the simple stuff being discussed here.

Do you?

It is clear you should be asking for a refund.

Tell me this, what does the Reserve Bank use as a measure of inflation and how do they determine underlying inflation.

And you can't keep fudging - I know the answers to these questions. I want to see if you do (and I suspect you have no idea given your last few posts).

Meantime please don't keep ignoring this.

Quote:

But it is odd you say that anyway. If there are 'inflationary inducing' "wage increases, driven by people making lots of money" how does this fit with the usual leftard model of people being far worse off under WorkChoices? Who is making all this money you speak of when the leftards are saying everyone is worse off?

Please explain how the story changes to suit your partisan viewpoint.

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freediver Gold Member Online www.ozpolitic.com Posts: 47563 At my desk.	Re: Go you old thing Reply #65 - May 20^th, 2008 at 6:23pm Have you ever studied economics deepthought, beyond looking up stuff on wikipedia?
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deepthought Gold Member Offline In Defence Of Liberty Posts: 2869	Re: Go you old thing Reply #66 - May 20^th, 2008 at 6:25pm freediver wrote on May 20^th, 2008 at 6:23pm: Have you ever studied economics deepthought, beyond looking up stuff on wikipedia? I thought you would back pedal. No worries mate. I know you have no idea what you're talking about. And now the board does too. Does your educational institution refund?
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freediver Gold Member Online www.ozpolitic.com Posts: 47563 At my desk.	Re: Go you old thing Reply #67 - May 20^th, 2008 at 6:26pm So after I answer question after question from you, you won't answer a single one from me? Why not? Have you ever studied economics deepthought, beyond looking up stuff on wikipedia?
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deepthought

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Re: Go you old thing
Reply #68 - May 20^th, 2008 at 6:28pm

freediver wrote on May 20^th, 2008 at 6:26pm:

So after I answer question after question from you, you won't answer a single one from me? Why not?

Have you ever studied economics deepthought, beyond looking up stuff on wikipedia?

Ha ha ha ha, you haven't answered a single thing. You have squirmed, back pedalled, slithered and denied - then ignored every question put to you.

Try this for the tenth time.

Quote:

But it is odd you say that anyway. If there are 'inflationary inducing' "wage increases, driven by people making lots of money" how does this fit with the usual leftard model of people being far worse off under WorkChoices? Who is making all this money you speak of when the leftards are saying everyone is worse off?

Please explain how the story changes to suit your partisan viewpoint.

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lapaz62 Junior Member Offline Australian Politics Posts: 98	Re: Go you old thing Reply #69 - May 20^th, 2008 at 6:54pm Its spending that courses inflation, not how much you earn.
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freediver Gold Member Online www.ozpolitic.com Posts: 47563 At my desk.	Re: Go you old thing Reply #70 - May 20^th, 2008 at 8:31pm What is the strongest controller over how much people spend?
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Ray_A Senior Member Offline OzPolitic Posts: 334 Gender:	Re: Go you old thing Reply #71 - May 20^th, 2008 at 9:05pm Neferti wrote on May 20^th, 2008 at 5:13pm: I do believe that Aussies are becoming a bunch of whingers. In view of Lap's redommendation to get more POMS here, this could be a winning combination.
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Sappho Gold Member Offline OzPolitic Posts: 1406 Gender:	Re: Go you old thing Reply #72 - May 21^st, 2008 at 9:11am freediver wrote on May 20^th, 2008 at 8:31pm: What is the strongest controller over how much people spend? Credit limits duffus... now go back and answer DT's question. We are all waiting.
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freediver

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Re: Go you old thing
Reply #73 - May 21^st, 2008 at 9:45am

It's a dumb question that makes no sense at all, but feel free to explain this 'usual leftard model' if you know what he is talking about. I haven't come across it before. Perhaps my education was lacking.

Credit limits only play a small role. Only a small minority spends as much as they can possibly borrow.

What is the main factor lenders use in setting a credit limit?

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Sappho Gold Member Offline OzPolitic Posts: 1406 Gender:	Re: Go you old thing Reply #74 - May 21^st, 2008 at 10:37am freediver wrote on May 21^st, 2008 at 9:45am: What is the main factor lenders use in setting a credit limit? Would that be sub-prime credit limits? LOL...
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