@csuwildcat : your inability to reason about how currencies are related to political economy is bemusing for *both* of us then ;-)
@csuwildcat commodity prices fell *in half* in some cases in 1857: http://academiccommons.columbia.edu/download/fedora_content/download/ac:136823/CONTENT/S0022050700040122.pdf …
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@csuwildcat Evidence suggests large crashes pre-fed: https://www.aeaweb.org/aea/2014conference/program/retrieve.php?pdfid=713 … http://stevenpinker.com/files/rogoff/files/banking_crises.pdf … http://www.reinhartandrogoff.com/data/browse-by-country/countries/united-states/ … (see inflation)Thanks. Twitter will use this to make your timeline better. UndoUndo
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@slightlylate commodities had even wilder swings from 1980-2000, your point? -
@csuwildcat : it's an indicator since GDP wasn't At Thing (TM). There were no (uninsured) major banking collapses in the same timeframe.
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@slightlylate scary pre-Fed commodity swings? See chart. In 1857 British monetarist severed gold: you proved my pointpic.twitter.com/soCDbhjsru
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@csuwildcat you missed the point. Commodity prices were only one indicator in a pre-GDP world. See the other estimates as well. - 1 more reply
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@slightlylate your comment makes me wonder if your alarm over prices is rooted in the ol' inflationary boogieman: http://www.zerohedge.com/news/2014-03-07/no-deflation-not-danger … -
@slightlylate meant *deflationary*
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