You have issues. You can't think of 1 specific thing to say that is truthfully evil about Buffett- and definitely can't justify that he is the "root of all evil". Also, making his life's work multiplying the wealth of his fellow investors pulls him out of the lowlife scum bag territory. Also, you don't like insurance? Well are you going to pay in cash for damages and medical expenses when you cause a car accident? Will you eat the whole cost when a tree falls on your house? Are you going to be ok with it when your $10,000 bank CD turns into $4000 because the bank agreed with your views on insurance?
WB along with Gates, has promised to give away 95% of his wealth to charities and similar purposes. That pretty much clears out the 'evilness' slam. Spending is the issue in keeping the economy healthy. Even if spending gets out of hand for few years due to war etc. the government has to bring the books back to balance with better policies. Bush let the balanced books go to hell and Obama is not doing anything 'superwise' to undo the Bush calamity.
The ups and downs are precisely what price INstability is. Not stability. In any case, you said there was no price instability before the Fed. Clearly you are wrong.
price stability does not mean that there no fluctuations in prices. it means that over a given period of time price are stable, http://www.measuringworth.org/datasets/uscpi/result.php clearly you shot from the hip. next time study the graph more carefully. it might help you to avoid erroneous remarks. eg, in 1840 the price index was 8.13 in 1913 the price index was 9.60 in 1913 the price index was 9.60 in 1986 it was 109.6 most people will be able to see the rapid increase in prices after the supreme court ruled the fedral reserve constitutional. how about you mr. kas?
From your same source: Inflation rates: http://www.measuringworth.com/calculators/inflation/result.php Much more stable AFTER 1913.
what are you talking about ? enter 1840 then 1913 to calculate the inflation rate. result is .19 enter 1913 then 1986 it was 3.39 I gave you previously the absolute index for 1840 than 1913 than 1986, it was practically unchanged from 1840 to 1913. it then went up 10x from 1913 to to 1986. you are completely clueless or u just like to argue.
So, using your flawless logic, something truly horrible, akin to the creation of the Fed, must have also happened in the UK and the US in 1895... 'Cause, guess what, "a rapid increase in prices" (using your definition) occurred after 1895. Basically, there's too many things wrong with the logic you used above to list.
Well, I did give an example that demonstrates the flaws, didn't I? Doesn't that count towards an answer?
actually not. u carefully chose 1895 as the base year. Annualized Inflation Rate US 1895 - 1913 Annualized Inflation Rate 0.92 compare to the 3.39 from 1913 to 1986 compared to 2.60 from1913 to 1931 the bottom line again is that in the 73 years before the creation of FED prices were stable and in the 73 years after they went up 10X