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Bah! Humbug And A Happy Hyperinflationary Christmas To All

Tyler Durden's picture




 

There are, according to USA Today, 364 items that need to be purchased to create the ultimate gift basket from the epic holiday song "The 12 Days of Christmas". Based on PNC Wealth's Christmas Price index, the cost of this basket is $107,300 in 2012 (up 6.1% year-over-year). Since 2001, when the Fed embarked upon its uber-expansionary monetary policy experiments, the cost of Christmas has risen over 40% faster than the Government's prescribed CPI (and if we use a different cost-base, since 2006, the cost of Christmas has risen 46% per year on average). And on an even more Bah! Humbug note, there is the important economic question of the Deadweight Loss of Christmas - i.e. gift-giving means consumption choices are made by someone other than the final consumer, with potentially sub-optimal micro-economic effects such as a mismatch with the recipient's preferences. This wonderfully positive report finds that between 10% and 33% of the value of gifts 'given' is destroyed through this inefficiency (with cash - or gold - the least impacted?). Happy Holidays, everyone!

 

 

The Deadweight Loss Of Christmas - PDF here

Cost of 12 Days of Christmas in 2005/2006 - PDF here

 

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Sun, 12/23/2012 - 17:37 | 3091795 TraderTimm
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A heartwarming tale about christmas trees getting revenge - some fake gore, language, NSFW - http://vimeo.com/5048966

Sun, 12/23/2012 - 18:24 | 3091843 Zer0head
Zer0head's picture
FBI documents reveal secret nationwide monitoring of Occupy protests

 

Documents released show coordination between the FBI, Department of Homeland Security and corporate America. They include a report by the Domestic Security Alliance Council (DSAC), described by the federal government as "a strategic partnership between the FBI, the Department of Homeland Security and the private sector,"

 

The Federal Reserve in Richmond appears to have had personnel surveilling OWS planning. They were in contact with the FBI in Richmond to "pass on information regarding the movement known as occupy Wall Street."

http://www.examiner.com/article/fbi-documents-reveal-secret-nationwide-m...

 

redacted docs here

http://www.justiceonline.org/commentary/fbi-files-ows.html

Sun, 12/23/2012 - 18:55 | 3091867 negative rates
negative rates's picture

Who evers idea it was to commericialize Christmas, and those who followed up on it. Committed a sin.

Sun, 12/23/2012 - 19:15 | 3091889 General Decline
General Decline's picture

Thre were some beautiful chemtrails in the sky's of north eastern Illinois this morning. Nice and straight and parallel. We got us some gods pilots up there, that's for sure. I'm feeling extra complacent today.

Mon, 12/24/2012 - 02:59 | 3092400 markmotive
markmotive's picture

The US is marching towards hyperinflation...the early preconditions exist.

http://seekingalpha.com/article/1066721-6-scary-charts-on-the-hyperinfla...

Mon, 12/24/2012 - 09:01 | 3092539 francis_sawyer
francis_sawyer's picture

5 gold rings... Nuff said...

Sun, 12/23/2012 - 20:16 | 3091971 are we there yet
are we there yet's picture

Utah records ZH and u as well. Gonna find out who's naughty and nice. Santa is now a strapped drone...

Sun, 12/23/2012 - 23:50 | 3092259 DoChenRollingBearing
DoChenRollingBearing's picture

I am on so many lists that I don't care much anymore.  Still, in early 2013 Utah comes on line.  I have not decided how to react (STFU or write what I please).

Sun, 12/23/2012 - 21:19 | 3092000 Freddie
Freddie's picture

The libtard cities are where the Occupy people have gotten the s**t kicked out of them.  Places like Oakland and a few others. So much for liberal enlightenment and tolerance for free speech.

For the record - I support their right to free speech. Scum mayors in lib hell holes like Oakland and a few other cities did not and they set the police goons on them.

I do not support some of Occupt's BS polictical correctness when girls/women were being attcked in NYC at their camp. Or their some Occupy people were more equal than others.

F   PC.

Sun, 12/23/2012 - 23:46 | 3092257 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

For calling out the hypocrits.  I KNOW that is not popular to do.

Wed, 12/26/2012 - 11:18 | 3096137 Orange Pekoe
Orange Pekoe's picture

Why didn't they just buy competing currencies? They could topple the whole thing sitting at home drinking eggnog.

Mon, 12/24/2012 - 00:52 | 3092333 ball-and-chain
ball-and-chain's picture

Where is the evidence for hyper-inflation?

I just don't see it.

Bond yields keep going down.

People keep buying our debt.

When does it all end?

I truly don't know.

http://www.angrysinner.blogspot.kr/2012/12/try-to-find-church-you-like.html

Mon, 12/24/2012 - 11:56 | 3092910 Shesh
Shesh's picture

Awesome! this one. Feel like sharing some funny Christmas quotes with you guys. I dedicate this Christmas quote to everyone, Christmas time - When people want their pasts forgotten and their presents remembered. Very soon buying new Christmas presents will become a matter of past. If only there could be something like e-present after e-card and all. Merry Christmas to all.
 

 

 

Sun, 12/23/2012 - 17:40 | 3091801 ShortTheUS
ShortTheUS's picture

You better buy gold

You better not cry

You better hedge against

the money supply.

The .DXY is going way down!!!

Sun, 12/23/2012 - 17:52 | 3091814 Ignatius
Ignatius's picture

$107,000 for Christmas?  Man, these guys live in a better neighborhood than mine.

Never thought of "The Twelve Days of Christmas" as an elitest song.  Hmm....

 

Sun, 12/23/2012 - 18:07 | 3091827 knukles
knukles's picture

 


Twelve-pack of Bud
Eleven Wrastling tickets
Ten o' Copenhagen
Nine years probation
Eight table dancers
Seven packs of Redman
Six cans of Spam
Five flannel shirts
Four big mud tires
Three shotgun shells
Two hunting dogs
... And some parts to a Mustang GT.


-Jeff Foxworthy

 

 

Sun, 12/23/2012 - 18:29 | 3091850 Wakanda
Wakanda's picture

"Somebody done been to the Wal Mart."

Sun, 12/23/2012 - 23:48 | 3092258 DoChenRollingBearing
DoChenRollingBearing's picture

@ knukles, + 1

Hard to argue with that.

Sun, 12/23/2012 - 20:09 | 3091966 andyupnorth
andyupnorth's picture

I've been saying since 2010 that the Canadian dollar will become 30% stronger than the USD.

 

Great lyrics!

Sun, 12/23/2012 - 17:42 | 3091804 q99x2
q99x2's picture

Just get the 8 maids a milking. Thier cost is tied to the minimum wage index.

Sun, 12/23/2012 - 18:02 | 3091826 r3phl0x
r3phl0x's picture

8? I can hardly keep up with 3 of them.

Sun, 12/23/2012 - 19:41 | 3091917 smlbizman
smlbizman's picture

if i can sell a 1964 dime and quarter for 7.50 does that mean min. wage is really .35?...

Sun, 12/23/2012 - 21:12 | 3092035 Uber Vandal
Uber Vandal's picture

Yes.

Sun, 12/23/2012 - 20:10 | 3091968 are we there yet
are we there yet's picture

8 maids a milking is either sexist.. Or sexy.

Sun, 12/23/2012 - 17:54 | 3091817 GreatUncle
GreatUncle's picture

Each time anybody reports the supposed rate of inflation why is it more people and growing think that it is all a pack of lies?

Reality does not marry to what is being said. THIS IS THE BIT!

Each time this information is stated and being as it is a lie just convinces more so affected by the lies what the truth really is. That is really the battle they wage now, because YOY deceit has to end one day.

If it does not end then it means a central banker can make you believe a peanut is worth its weight in gold.

It is going to take some convincing for that to happend "just before the end". 

On that last bit, you never get to the end if you start telling the truth.

Sun, 12/23/2012 - 17:55 | 3091819 Squid Vicious
Squid Vicious's picture

Well, at least the NORAD Santa Tracker is working much better than the NORAD missing plane tracker did on 9/11/01... progress!

Sun, 12/23/2012 - 18:12 | 3091834 Element
Element's picture

THAAD has the situation in hand ... no sneeky Reds getting their shit over the pole this time.

Sun, 12/23/2012 - 17:55 | 3091820 Water Is Wet
Water Is Wet's picture

This article is dumb.  I am now dumber for having read this.

Sun, 12/23/2012 - 23:55 | 3092264 DoChenRollingBearing
DoChenRollingBearing's picture

It's Christmas.  We all can dumb down a little, lighten up and enjoy this time to reflect.  I enjoy knowing how we are getting screwed, even during the Holidays, by our self-appointed overlords.  Yet, I try a little harder to find the good in each of us, and try to make myself a little better.  Dumber as well?  Could be..., so what?

Sun, 12/23/2012 - 17:57 | 3091823 reader2010
reader2010's picture

Why does Jane6Pac need those Chinese crap in the first place?

Sun, 12/23/2012 - 19:01 | 3091872 Uber Vandal
Uber Vandal's picture

Because shopping for Christmas in 2012 is so much CHEAPER than it was in 1958.

Presented to you by a Professor no less: http://www.aei-ideas.org/2012/12/christmas-shopping-1958-vs-2012/

I do wonder, however, how the hours of labor to pay for each item shown would look like if MEDIAN compensation per hour was used instead of Average?

Oh, yes, $16.57 Median vs. $19.19 average.

And, I am also rather certain that those products shown from 1958 were made in the USA at that time, not "desinged and engineered in the USA".

Too bad the professor didn't show the price of food per ounce or pound, not package, and how much cheaper that is now too, esp. with the hydrogenated oil, high fructose corn syrup, and the former pink slime.

And finally, $1.98 paid in silver coinage of 1958 would be $1 silver dollar, 1 half dollar, 1 silver quarter, 2 silver dimes, and 3 copper cents.

What would that be today??

1 silver dollar = $23.18

1 silver half dollar = $10.84

1 silver quarter = $5.42

2 silver dimes = $4.32

3 copper cents = 0.07

Total compensation in hour based on Dec. 21, 2012 spot silver prices: $43.83

 

Sun, 12/23/2012 - 23:56 | 3092266 DoChenRollingBearing
DoChenRollingBearing's picture

Bravo!

Sun, 12/23/2012 - 18:05 | 3091828 css1971
css1971's picture

I've always hated getting christmas presents.  I have to store them somewhere till I forget it was a gift and can give/sell/throw them away in good conscience.

 

Sun, 12/23/2012 - 20:02 | 3091956 cbxer55
cbxer55's picture

When my relatives asked me what I wanted for Christmas, I told them "nothing because I am not buying anything for anyone this year". Being separated from my wife, the costs have gone up and I do not have cash to throw away buying stuff that will end up being thrown away.

Food and energy, that's all baby!

Sun, 12/23/2012 - 21:11 | 3092030 Uber Vandal
Uber Vandal's picture

Personally, this is THE LEAST "Christmasy" Christmas I have ever had in my life, and things for us were VERY dicey ca. 1980-1983.

Not one thing feels right about this, nothing at all.

 

 

Sun, 12/23/2012 - 22:07 | 3092120 StychoKiller
StychoKiller's picture

When I get to feelin' like that, I listen to Handel's "Messiah" oratorio.

Sun, 12/23/2012 - 18:09 | 3091831 Element
Element's picture

 

 

Freaking cheap-skates!

This is the birth of the Messiah we're talking about!

Celebrate you tight-arses!

Sun, 12/23/2012 - 23:57 | 3092268 DoChenRollingBearing
DoChenRollingBearing's picture

Yes, + 1

This is a great time of year to reflect as well.

Mon, 12/24/2012 - 00:57 | 3092339 sun tzu
sun tzu's picture

I thought the birth of the Messiah was in Nov 2008?

Mon, 12/24/2012 - 06:43 | 3092452 TPTB_r_TBTF
TPTB_r_TBTF's picture

 

 

Prince William is the Messiah,

born of the Goddess Diana.

Obama is the fall guy, much like, John the Baptist was the fall guy for the previous Messiah.

 

Obama will lead us into the crisis; the shining Prince will lead us out of the crisis into a one-world govt.

The sheeple will rejoice and proclaim His Name.  After all, ... he's cool, his mommy was sweet, what could go wrong?

 

Mon, 12/24/2012 - 11:15 | 3092786 DosZap
DosZap's picture

I thought the birth of the Messiah was in Nov 2008?

Yep, and Jamie Foxx is his hearalder, and racist bstd.Why is it ok, for blacks to say whatever they wat racist, and caucausions can't say anything without Thought PoPo's beating dow their doors?.

Sick of this crap.

Besides he is really the Destroyer(Abaddon), should be his real monicker.

Sun, 12/23/2012 - 18:09 | 3091832 Spastica Rex
Spastica Rex's picture

I'm just substituting wild squab for partridge.

Sun, 12/23/2012 - 21:21 | 3092046 Freddie
Freddie's picture

I am just substituting cases of .223 and .308 plus PMags for a ****ing pear tree.

Bullion, bullets, beans, bit*hes, Bibles, Bieber and napalm.

 

Sun, 12/23/2012 - 22:37 | 3092179 Spastica Rex
Spastica Rex's picture

You're nuts sometimes. +1

Mon, 12/24/2012 - 00:01 | 3092274 DoChenRollingBearing
DoChenRollingBearing's picture

Yeah, + 1 from me too Freddie, although I would leave out Bieber (and I already have my girl, 27 and 1/2 years married), from your list myself...  I stocked up recently on bullion and AK ammo.

You broke your "b" pattern at the end w/ napalm!  Could I have an RPG instead?

Mon, 12/24/2012 - 05:43 | 3092450 Disenchanted
Disenchanted's picture

 

 

I guess bible pages will work just as well as TP...

 

Happy Holodaze.

Sun, 12/23/2012 - 18:12 | 3091836 buzzsaw99
buzzsaw99's picture

364?

Sun, 12/23/2012 - 18:18 | 3091841 SilverDOG
SilverDOG's picture

Buy what is needed or give cash.

Give Silver and Gold to those who "know".

Give quality not quantity.

Donate to Goodwill & friends all the crap the 'tards give you.

Merry New Happy Cliff Holiday.

Sun, 12/23/2012 - 18:27 | 3091849 Cult of Criminality
Cult of Criminality's picture

Just staggering a Silver buy here.

Thanks cartel for the holiday gift.As stated before ,we will always be here for you.

A Silver hedge how nice is that !  

33.3% of the buy is in as of, fri market close.....   Your move.

Up   Down   All around     LOL     IDFC

Sun, 12/23/2012 - 18:35 | 3091853 BlueStreet
BlueStreet's picture

Still rising slower than a college education and at least you get something for your money. 

Sun, 12/23/2012 - 18:40 | 3091854 tallen
tallen's picture

Wish my bank transfer to bullionvault would hurry up. Waiting for futures to open, Santa please let silver futures drop today. I've been quite a good boy this year.

 

Also, Merry Christmas to all Zerohedge readers! Hope you all family and friends are well this festive season!!

Sun, 12/23/2012 - 22:08 | 3092122 Freddie
Freddie's picture

Anyone else using BullionVault?   Can they rehypothecate your gold?  How do you know it is not the house of R?

Mon, 12/24/2012 - 00:06 | 3092276 DoChenRollingBearing
DoChenRollingBearing's picture

Physical in my (or in my greater family's) own possession ONLY.  

Why take the chance that BullionVault might steal it (or tell whichever local .gov they have yours at)?  The only real reason might be if you do NOT have a secure place to put your gold, but if you think creatively, you can probably find some nice little hidey-holes...

Six well hidden places.  Molon Labe!

Sun, 12/23/2012 - 18:37 | 3091855 Irene
Irene's picture

I'll take those "Five GOLDEN rings!" any time (sung 8 times, that means forty GOLDEN rings!!!!). 

 

Merry Christmas one and all at ZH. 

Sun, 12/23/2012 - 19:06 | 3091878 Racer
Racer's picture

and the supermarkets cash in as well.. some things have jumped over 50% in the last couple of weeks, so bah humbug

Anyway 150 years ago xmas day wasn't even a holiday! It is all a con to get people to buy things for other people that they don't want

Sun, 12/23/2012 - 21:10 | 3092028 Son of Loki
Son of Loki's picture

I bught some organic celery yesterday....up 36% in the past two months! I hope it's a seasonal thing but look at apples, romain  lettice, etc.

Mon, 12/24/2012 - 11:10 | 3092774 DosZap
DosZap's picture

I bught some organic celery yesterday....up 36% in the past two months! I hope it's a seasonal thing but look at apples, romain lettice, etc.

Better back off the ORGANIC veggies, they are nothing but Salmonella breeding grouds.

Most cases reported this year have come from organics.

Mon, 12/24/2012 - 01:04 | 3092347 dunce
dunce's picture

I am not sure about that figure of lost value by mismatch with gifts, when i was a kid my wishs were kind of silly and the gifts were practicle. The point that when the govt. is Santa though is not lost to me, there i suspect the real losses are much greater.

Mon, 12/24/2012 - 06:25 | 3092455 Peter K
Peter K's picture

Now if we could just get the ComedyNBC folks to extend this line of reasoning to cover government spending...........

OK, call me Grinch :)

Mon, 12/24/2012 - 06:25 | 3092456 Peter K
Peter K's picture

P.S, Merry Chiristmas to one and all. :)

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