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shortonoil
Fission
Joined: Dec 02, 2004
Posts: 2684
Location: VA USA
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 Posted: Sat Feb 16, 2008 10:42 am Post subject: Re: TOD's oil production forecast: Not so good... |
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LastViking said:
| Quote: | | Energy is about 4% of the CPI. |
You may have been drinking too much of the government issued Kool Aid. Energy is $1.2 trillion of our GDP, and coal, oil and NG almost doubled last year and they are 83% of that $1.2 trillion. 4% goes into the fantasy number category. |
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LastViking
Tar Sands
Joined: Feb 19, 2007
Posts: 94
Location: British Virgins
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| Posted: Sat Feb 16, 2008 5:01 pm Post subject: Re: TOD's oil production forecast: Not so good... |
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| shortonoil wrote: | LastViking said:
| Quote: | | Energy is about 4% of the CPI. |
You may have been drinking too much of the government issued Kool Aid. Energy is $1.2 trillion of our GDP, and coal, oil and NG almost doubled last year and they are 83% of that $1.2 trillion. 4% goes into the fantasy number category. |
Sorry, but CPI has no correlation with GDP. |
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shortonoil
Fission
Joined: Dec 02, 2004
Posts: 2684
Location: VA USA
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| Posted: Sun Feb 17, 2008 10:54 am Post subject: Re: TOD's oil production forecast: Not so good... |
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LastViking said:
| Quote: | | Sorry, but CPI has no correlation with GDP. |
CPI is an index of inflation. Its true measure is the velocity of money. VM has a great deal to do with the GDP. Increase the money supply for a fixed level of goods and services and you have increased the velocity of money.
We have a fixed level of energy and an increasing supply of money. Thus the GDP increases through inflation. To say that GDP is disconnected from the money supply is absurd. To say that CPI is disconnected from GDP is absurd. |
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eastbay
Moderator
Joined: Dec 18, 2004
Posts: 4456
Location: One Mile From the Columbia River
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| Posted: Sun Feb 17, 2008 11:00 am Post subject: Re: TOD's oil production forecast: Not so good... |
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Air has no correlation with breathing.
_________________
Got Dharma?
Everything is Impermanent. Shakyamuni Buddha |
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shortonoil
Fission
Joined: Dec 02, 2004
Posts: 2684
Location: VA USA
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| Posted: Sun Feb 17, 2008 11:34 am Post subject: Re: TOD's oil production forecast: Not so good... |
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eastbay said:
| Quote: | | Air has no correlation with breathing. |
Nicely put! LOL |
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LastViking
Tar Sands
Joined: Feb 19, 2007
Posts: 94
Location: British Virgins
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| Posted: Sun Feb 17, 2008 5:19 pm Post subject: Re: TOD's oil production forecast: Not so good... |
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| shortonoil wrote: | LastViking said:
| Quote: | | Sorry, but CPI has no correlation with GDP. |
CPI is an index of inflation. Its true measure is the velocity of money. VM has a great deal to do with the GDP. Increase the money supply for a fixed level of goods and services and you have increased the velocity of money.
We have a fixed level of energy and an increasing supply of money. Thus the GDP increases through inflation. To say that GDP is disconnected from the money supply is absurd. To say that CPI is disconnected from GDP is absurd. |
Simply put, your logic is warped and ludicrous. Nobody has cared about nominal GDP for three decades. Real GDP, the common metric, is already adjusted for inflation.
For the last five years, we have monitored MZM data for money supply and as such, M3 has been discontinued as a weekly release but remains available for study via the quarterlies. You have no idea of what you are babbling on about. But then, neither does Ron Paul... |
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