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Bill Dudley Not Worried About Ipad Inflation

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http://sg.finance.yahoo.com/news/iPad-price-remark-gets-Fed-rsg-4151302271.html?x=0

NEW YORK (Reuters) - Memo to central bankers:

Best not to cite the price of the new iPad as an example of why inflation isn't a problem when you head into a working-class neighborhood.

In Queens, New York, on Friday, New York Fed President William Dudley did just that. He got an earful.

After being bombarded with questions about food inflation, Dudley attempted to reassure his audience by putting rising commodity prices into a broader economic context -- but that only made matters worse.

"When was the last time, sir, that you went grocery shopping?" one audience member asked.

Dudley tried to explain how the Fed sees things: Yes, food and energy prices may be rising, but at the same time, other prices are declining.

He then stretched for a real world example. The only problem was he chose the Apple's latest tablet computer that hit stores on Friday, which may be more popular at the New York Fed's headquarters near Wall Street than it is on the gritty streets of Queens.

"Today you can buy an iPad 2 that costs the same as an iPad 1 that is twice as powerful," he said."You have to look at the prices of all things."

This prompted guffaws and widespread murmuring from the audience, with one audience member calling the comment "tone deaf."

"I can't eat an iPad," another said.

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Someone unaffected by inflation talking to people effected by it :)

(An ipad, could you eat one though, if you were really hungry? Maybe ol dudley is thinking on these lines, when food prices get too high people will need to start eating out of date computers.)

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Someone unaffected by inflation talking to people effected by it :)

(An ipad, could you eat one though, if you were really hungry? Maybe ol dudley is thinking on these lines, when food prices get too high people will need to start eating out of date computers.)

"Let them download cake."

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Bankers certainly aren't worried by inflation - they are getting first bite of the freshly printed money pie and able to buy assets with it before the resultant inflation hits.

In the meantime, the toxic debts that they ran up in their greed and stupidity are mitigated somewhat by the inflation generated as a by-product of the economic policies designed to support the grossly overvalued asset prices that underwrite those debts.

Nope - inflation is definitely no problem, if you're one of the pigmen banksters.

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iPad is an anagram of padi (as in padi field where you can grow rice - hint).

See how twisted our world has become?

I'll bet Erranta told you that! :huh:

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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