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#Post#: 6963--------------------------------------------------
Inflation, economics, Iran & Venezuela
By: Susan Date: September 28, 2018, 9:02 am
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In italki someone posted about the currency in Iran. I am
terribly ignorant about Iran and was not aware of their
inflation. I found this article
HTML https://www.forbes.com/sites/johntamny/2018/05/20/collapsing-iran-and-venezuela-mock-the-feds-definition-of-inflation/#130934291eb4,<br
/>which really is more a criticism of the U.S. Federal Reserves
theories about inflation.
I decided this could be seen as political, so I am posting here
instead of on italki. Would anyone be willing to explain to me
their perspective on inflation in Iran, Venezuela, or what you
think of the thesis of this article about what causes inflation?
#Post#: 6966--------------------------------------------------
Re: Inflation, economics, Iran & Venezuela
By: Sepideh Date: September 28, 2018, 9:56 am
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It definitely had the limitless impact on people lives these
days and has been every Iranian's concern.
Just consider a labor who his income would be around 10 millions
Rials (50 dollars). He might can not afford many things these
days due to inflation.
#Post#: 6994--------------------------------------------------
Re: Inflation, economics, Iran & Venezuela
By: the lost minion Date: September 29, 2018, 4:57 am
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I am rather retarder when it comes to economics (which is
regrettable - I'm sure I will catch up with all this one day),
so keep this in mind reading this.
I don't get this guy. He produced quite a lot of words to
basically say that FED is wrong because it thinks that growth
causes inflation (through consumption). And that it is purely
theoretical and blind to the reality - and here we go with Iran
and Venezuela as examples of countries where there is
consumption (or at least the need for it) but not the economic
growth.
Reality according to this guy is that: investments power
economic growth and thanks to the investments we've got
production (so there can be consumption) but the prices actually
go down, not up as FED allegedly claims. Ergo FED is wrong.
It's like this guy woke up yesterday. Economists work with
models and theories. He tries to challenge economic theory in a
paper column. Very entertaining.
Not to mention that this is what I found on the FED's site:
HTML https://www.frbsf.org/education/publications/doctor-econ/2002/october/inflation-factors-rise/
Two factors. Two separate things. One of them Demand-pull
inflation occurs when aggregate demand for goods and services in
an economy rises more rapidly than an economy's productive
capacity which would fit the Venezuela and Iran.
But he probably refers to something else than what they have got
on their page and I am not aware of.
#Post#: 6999--------------------------------------------------
Re: Inflation, economics, Iran & Venezuela
By: NealC Date: September 29, 2018, 5:19 am
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Status has it exactly right and the Forbes article misses the
dual causes of inflation - inflation can come from either
extreme. Too much money or too little production driving prices
through the roof. Once that gets to basics like food, shelter
or clothing the country's currency is toast.
What is happening in Venezuela and Iran cannot be divorced from
what is happening in the rest of the world as well, money
constantly compares what is happening in countries and regions
and flows in and out based on that comparison. No one wants to
invest in Venezuela, that is pressuring the value of their
money. With their oil industry Venezuela made themselves a
player at the big boys table, that is part of what is crushing
the country. Oil trade and their debt is valued in USD, and if
no one wants to send USD/Euros to Venezuela then the value of
their own currency to pay bills will be all the more
scrutinized.
#Post#: 7000--------------------------------------------------
Re: Inflation, economics, Iran & Venezuela
By: NealC Date: September 29, 2018, 5:28 am
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The thing that amuses me about the strength of the dollar
despite the idiotic things done by our treasury and federal
reserve is because our idiocy is not done in a vacuum. Our
trading partners do similar idiotic things and all remain in the
game. Indeed there is a certain genius in the ability to walk
as close to the edge of financial ruin as possible, it lowers
costs and leverages strengths.
Countries like Switzerland with sound financial policies find
themselves punished in trade and tourism because their money is
worth too much. At times rewards go to the merry idiots, not to
the prudent.
#Post#: 7001--------------------------------------------------
Re: Inflation, economics, Iran & Venezuela
By: NealC Date: September 29, 2018, 5:44 am
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Sorry to post so much here but I thought of another thing. The
movement of money.
One of the reasons USD remains the currency of trade is because
(except for US sanctions) there are no restrictions on where it
goes or how it can be traded/exchanged. Places facing a
negative flow of money like to blame the U.S. or the CIA that
either seem to be running some sort of clandestine financial
operation against them. The flow of money is much bigger than
that and reflects hundreds of billions of decisions every day.
Decisions as small as what you are going to have for lunch to
the largest financial investments. Money flows where it wants
to, and can be an unstoppable force.
Money is affected by politics but is much bigger than that. And
the cia just isn't that smart.
#Post#: 7143--------------------------------------------------
Re: Inflation, economics, Iran & Venezuela
By: Susan Date: September 30, 2018, 12:59 pm
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Does anyone know how (or if it is possible) to take a recording
you received in WhatsApp and put it here? One of my teachers
did a short interview with a family member who studied finance
and economics about my question babout inflation in Spanish and
sent it to me and reviewed it with me. With the man who is
talking staying anonymous, he gave me permission to share it
here if I can figure out how to do so. I thought some of you
others studying Spanish might be interested in it-- I thought it
was interesting and has some basic economic vocabulary in it,
like ¨banco central¨ that I could not think of when I wanted to
say what our Federal Reserve is.
Although his wording was different, the ideas are quite
compatible with what NealC and Status have explained, with a
little more detail about Venezuela and their PDVSA oil company.
#Post#: 7152--------------------------------------------------
Re: Inflation, economics, Iran & Venezuela
By: the lost minion Date: September 30, 2018, 3:09 pm
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Susan, great idea.
Share the recording to send it to your email. Open it on a PC or
laptop (easier to work with a file). Find an online opus to mp3
converter and convert the file. Next upload it to any cloud
(either something like Google drive or some other page for
sharing files) and paste the link here.
#Post#: 7170--------------------------------------------------
Re: Inflation, economics, Iran & Venezuela
By: Susan Date: September 30, 2018, 6:59 pm
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Ok-- I managed to get the files onto my computer and get them
converted to MP3s. I have a Google drive but have not figured
out how to get my MP3s onto it. Can you explain that part?
#Post#: 7191--------------------------------------------------
Re: Inflation, economics, Iran & Venezuela
By: the lost minion Date: October 1, 2018, 4:11 am
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Sure:
Open Google Drive in the browser. Open the folder in which
you've got the mp3 file on the computer. Drag and drop the file
onto the Google Drive folder in the browser.
Share the file (chose the option "sharing with everyone who has
the link - or something like that).
Copy the link and paste it here.
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