Onceuponatime Posted March 12, 2011 Share Posted March 12, 2011 Did anyone else read that story this morning? I find it very disturbing. Are the powers that be really that out of touch with reality? Quote Link to comment Share on other sites More sharing options...
Matryoshka Posted March 12, 2011 Share Posted March 12, 2011 Link to story? Quote Link to comment Share on other sites More sharing options...
mom2bee Posted March 12, 2011 Share Posted March 12, 2011 I think this is it. Quote Link to comment Share on other sites More sharing options...
tntgoodwin Posted March 12, 2011 Share Posted March 12, 2011 I have some very strong opinions about the Federal Reserve, but I don't think I can talk much about them here :D Quote Link to comment Share on other sites More sharing options...
Matryoshka Posted March 12, 2011 Share Posted March 12, 2011 Oh my. A Marie Antoinette for the 21st century. :001_huh: Quote Link to comment Share on other sites More sharing options...
Mrs.MacGyver Posted March 12, 2011 Share Posted March 12, 2011 "Let them eat cake" - Hilarious. That is exactly what I thought when I read that. These people are so out of touch with reality. Why on earth are food prices not factored into inflation? Quote Link to comment Share on other sites More sharing options...
Just Robyn Posted March 12, 2011 Share Posted March 12, 2011 :cursing::banghead: Quote Link to comment Share on other sites More sharing options...
mommaduck Posted March 12, 2011 Share Posted March 12, 2011 Good grief...I wouldn't even think of buying an iPad, since I have to pay for groceries! Quote Link to comment Share on other sites More sharing options...
Parrothead Posted March 12, 2011 Share Posted March 12, 2011 Idiots abound. You know, it is worse than that though. It is beyond idiocy. This guy and the other "leaders" have no concept of reality. I am so thoroughly disgusted by his rationale and comments. Quote Link to comment Share on other sites More sharing options...
redsquirrel Posted March 12, 2011 Share Posted March 12, 2011 Food prices and energy prices have never been taken into account when calculating inflation. That is nothing new. They are covered by the CPI, Consumer Price Index. Quote Link to comment Share on other sites More sharing options...
MariannNOVA Posted March 12, 2011 Share Posted March 12, 2011 HE: ---> New York Federal Reserve Bank President William Dudley <---- Is a BUTT! IMO. The kids and I were at the mall yesterday (I hate going to the mall -- cannot remember the last time I was there -- probably a year ago -- and, btw, it is less than 2 miles from my house) anyway, there were people lined up (seated, working on laptops, etc) on the lower level of the mall -- close to 1000 people - organized, quiet, but clearly, seated and waiting. The store manager told me they were in line to purchase the iPad2 that was going to be available at 5pm. The store manager was clearly all excited about this and in a tizzy over it -- I told her as nicely as I could that it totally had nothing to do with my life. Quote Link to comment Share on other sites More sharing options...
myfatherslily Posted March 12, 2011 Share Posted March 12, 2011 LOL... It's so ridiculous statement that it's comes back around to funny:lol: No iPad here either - sorry, groceries do come first!!!! Quote Link to comment Share on other sites More sharing options...
OLG Posted March 12, 2011 Share Posted March 12, 2011 Oh my. A Marie Antoinette for the 21st century. :001_huh: Well said!! Quote Link to comment Share on other sites More sharing options...
mcconnellboys Posted March 12, 2011 Share Posted March 12, 2011 Wow. How many people in the U.S. own even a desktop, much less a laptop or an iPad? Are the many folks who can't afford any type of technology gizmos invisible? Quote Link to comment Share on other sites More sharing options...
mommaduck Posted March 12, 2011 Share Posted March 12, 2011 Wow. How many people in the U.S. own even a desktop, much less a laptop or an iPad? Are the many folks who can't afford any type of technology gizmos invisible? Must be :glare: and it irks me to no end to know that there are people so utterly clueless as to assume that everyone has all these "things" and not realise that basic needs of food, clothing, and shelter is a desperate priority with many. Quote Link to comment Share on other sites More sharing options...
elegantlion Posted March 12, 2011 Share Posted March 12, 2011 Feudal Lords rarely realize how bad the serfs actually have it. :glare: Quote Link to comment Share on other sites More sharing options...
mcconnellboys Posted March 12, 2011 Share Posted March 12, 2011 Yes, this makes me think of Catherine the Great on tour and how her ministers used staged middle class folk to line the roadway as stand ins for the peasants, because their plight was so horriby unacceptable it might have moved her to change..... Quote Link to comment Share on other sites More sharing options...
Impish Posted March 12, 2011 Share Posted March 12, 2011 One word. Twit. Quote Link to comment Share on other sites More sharing options...
Lady Florida. Posted March 12, 2011 Share Posted March 12, 2011 First of all, I agree that the comment by the Fed was insensitive and downright stupid, and I applaud the person who said he can't eat an iPad. We don't have an iPad because we don't feel it would be a good use of our money, but we are grateful that if we wanted one, we have the financial ability to save up and get one. However, I have to wonder how many in that crowd were of the "government should stay out of private enterprise" mindset. If so, then why are they complaining to the government about prices in private enterprise? Quote Link to comment Share on other sites More sharing options...
Kirch Posted March 12, 2011 Share Posted March 12, 2011 Food prices and energy prices have never been taken into account when calculating inflation. That is nothing new. They are covered by the CPI, Consumer Price Index. That may be true, but it doesn't change the fact that it was a particularly bone-headed thing to say. In the overall picture of the total economy, I can see his point. But that doesn't help people who are feeling the food prices pinch who don't happen to have iPads on their weekly grocery lists. Quote Link to comment Share on other sites More sharing options...
elegantlion Posted March 12, 2011 Share Posted March 12, 2011 That may be true, but it doesn't change the fact that it was a particularly bone-headed thing to say. In the overall picture of the total economy, I can see his point. But that doesn't help people who are feeling the food prices pinch who don't happen to have iPads on their weekly grocery lists. :iagree: We're a techno family. We love gadgets. But an I-pad costs more than we spend on groceries in a month. So if your family could chose to not eat for a month it might be a better comparison. Quote Link to comment Share on other sites More sharing options...
Audrey Posted March 12, 2011 Share Posted March 12, 2011 :iagree: We're a techno family. We love gadgets. But an I-pad costs more than we spend on groceries in a month. So if your family could chose to not eat for a month it might be a better comparison. Oh, the first few days would be fine. Might even hold out for week. But, by week two the noise of stomachs grumbling would be deafening, and by week 3 the hard crazies would start and who knows who'll be eating who by week 4. But what I really want to know is... how much did Apple pay for that clever little endorsement? :glare: Quote Link to comment Share on other sites More sharing options...
MorganClassicalPrep Posted March 12, 2011 Share Posted March 12, 2011 Yes, this makes me think of Catherine the Great on tour and how her ministers used staged middle class folk to line the roadway as stand ins for the peasants, because their plight was so horriby unacceptable it might have moved her to change..... :iagree:In the grand scheme of the economy, yes, lower costs of 'other' items do balance out rising costs of food for some people. But of course, for those of us who struggle each month and can barely provide the necessities, lower costs of all the luxery items that we are never going to afford does nothing to balance OUR economy. Quote Link to comment Share on other sites More sharing options...
DawnL Posted March 12, 2011 Share Posted March 12, 2011 Feudal Lords rarely realize how bad the serfs actually have it. :glare: :iagree: Quote Link to comment Share on other sites More sharing options...
Jen in PA Posted March 12, 2011 Share Posted March 12, 2011 Honestly, I'm glad he said it. I think it's time for people to realize that the powers-that-be measure the strength of our economy by what the haves can afford, and by the increase in corporate profits that the spending of the haves creates. The have-nots just don't factor in. Quote Link to comment Share on other sites More sharing options...
mommaduck Posted March 12, 2011 Share Posted March 12, 2011 Exactly! Quote Link to comment Share on other sites More sharing options...
Mynyel Posted March 13, 2011 Share Posted March 13, 2011 I can't believe they would try to compare electronics to food. :001_huh: One is needed.. essential. The other... not. Sheesh. Quote Link to comment Share on other sites More sharing options...
Anita in NC Posted March 13, 2011 Share Posted March 13, 2011 I can't believe they would try to compare electronics to food. :001_huh: One is needed.. essential. The other... not. Sheesh. Exactly. Some of us don't have things like ipads, ipods, kindles, etc..... Quote Link to comment Share on other sites More sharing options...
Jen in PA Posted March 13, 2011 Share Posted March 13, 2011 If we're measuring in ipads, I just have to say that I paid an entire extra ipad's worth for heating oil this winter. :D Tell me that's not inflation! Quote Link to comment Share on other sites More sharing options...
tntgoodwin Posted March 13, 2011 Share Posted March 13, 2011 Wow. How many people in the U.S. own even a desktop, much less a laptop or an iPad? Are the many folks who can't afford any type of technology gizmos invisible? http://www.physorg.com/news/2011-02-percent-adults-cellphone-survey.html Not sure how much overlap there is between the laptop owners and desktop owners (some will have one or the other, some will have none< some will have both), but I have seen other numbers which say (in 2005) 75% of adults in America owned a computer. However, I have to wonder how many in that crowd were of the "government should stay out of private enterprise" mindset. If so, then why are they complaining to the government about prices in private enterprise? It is because the Federal Reserve system prints our money supply, which is not backed by anything beyond the word of the government, and that causes inflation. Quote Link to comment Share on other sites More sharing options...
In The Great White North Posted March 13, 2011 Share Posted March 13, 2011 However, I have to wonder how many in that crowd were of the "government should stay out of private enterprise" mindset. If so, then why are they complaining to the government about prices in private enterprise? __________________ The government is already neck deep into controlling the price of food and energy. Subsidized, legislated, taxed, inspected, licensed, permitted, etc operations hardly qualify as free enterprise. Quote Link to comment Share on other sites More sharing options...
Lady Florida. Posted March 13, 2011 Share Posted March 13, 2011 It is because the Federal Reserve system prints our money supply, which is not backed by anything beyond the word of the government, and that causes inflation. I'm aware of that and understand it. I also understand government interference in agribusiness as pointed out in a later post. What I was wondering though, was about the crowd of people. Many people who claim they want government hands off are also the first ones to complain that government isn't doing enough. No, I don't have links, but there were absurd shouts of "Keep your government hands off my Medicare!" during the health care debate. I was just musing about the kinds of people who aren't happy regardless of what government does or doesn't do. And as I said in my post, it was an insensitive comment to compare an iPad to groceries. Quote Link to comment Share on other sites More sharing options...
Kirch Posted March 14, 2011 Share Posted March 14, 2011 (edited) Reported . . . ETA: Okay, I'm pretty sure there was a spam post here . . . I know I'm not just making it up! Or maybe I posted on the wrong thread . . . Edited March 14, 2011 by Kirch Quote Link to comment Share on other sites More sharing options...
kokotg Posted March 14, 2011 Share Posted March 14, 2011 Oh my. A Marie Antoinette for the 21st century. :001_huh: I am wading into this thread only far enough to point out that Marie Antoinette never actually said, "Let them eat cake." http://en.wikipedia.org/wiki/Let_them_eat_cake late night dose of trivia for you all. Quote Link to comment Share on other sites More sharing options...
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