Subject: Re: Re: Re: Re: Re: Re: Re: PROOF

Comments:
: TO: OMFG : At least I can spell wasting. : : YOU ARE WAISTING YOUR LIFE!!! : : : : Are you still of the belief that you were right, or are you just trying to avoid admitting it? : : : The opinion of Dr. Leonard is moot as we don't really know who he is. It has been a week, and you still haven't articulated your position in a way that could be interpreted as correct. : : : Below are the possible ways your question could have been interpreted, with the correct answers: : : : (1) Q: If someone earned 127k in 1990, what would they have to earn today to buy the same goods and services? : : : A: In order to calculate the time value of money, it is necessary to know what the CPI, or inflation was over the past 12 years. The CPI is the average increase in cost of goods and services - 80,000 goods and services are averaged. This average inflation is at approx 2.65%, as shown on hundreds of sites, including the Federal Reserve site. Since we are calculating for a value in the past to the present, and not using specific examples of inflation, we must use the CPI. We take the original salary, and compound 2.65% to get approx 176k. 176k is waht you have to earn today to have the same buying power as 127k in 1992. : : : Therefore, Ken, your 6% calculation of 250k was wrong. : : : (2) Q: Using the 10 examples of inflation in the goods/services given, and given that I earned 127k in 1992, what would I have to earn today to buy those 10 specific goods/services? : : : A: One should never use such a small set of examples when calculating the time value of money. Especially when the CPI, which uses 80,000 examples, can give a much more comprehensive picture of inflation. But we will use the 10 examples as your rate of inflation. : : : First of all you used 10 examples, all from differing time periods, not the 12 year period you first brought up. Even so, the average inflation of those examples is 7.8%. Using compound interest to calculate what would be needed today,,,127k for 12 yrs at 7.8% is approx 312k. Therefore, if we interpreted your question as using those 10 specific example, you would need 312k today to buy what 127k did in 1992. : : : Therefore your 6% calculation of 250k is wrong, again. : : : (3) Q: I, Ken Young, earned 127k in 1992, and from my personal experience, I would need 250k today to buy the same goods and services. : : : A: Ken, the only way that this statement could be true, is if you have A RECORD OF EVERY THING YOU PAID FOR FROM 1992 TO 2002. Now we all know you dont have that. That is why you used your rule of thumb of 6%. But, there is no way you could have come up with 6% unless you knew the inflation of every product and service you ever paid for. You made an incorrect assumption as to the rate of inflation, an assumption that more than DOUBLES what everyone else has. Nowhere in any publication of any type does it say that 6% is an acceptable figure for inflation in that period. You used specific examples that all increased dramatically, what about those that decreased dramatically. Hence the 2.65% average of 80,000 goods and services. Again, unless you have records of every purchase you made in the last 12 years (and if you say you do, then there is nothing more for us to discuss, because you would be lying or mentally ill, either way you wouldnt accept the truth). Therefore, your 6% assumption of inflation, and calculation of 250k is incorrect, AGAIN. : : : Kenny Boy, : : : I really cant see any other way to interpret your position. Therefore, YOU ARE WRONG. Just accept it, admit it, and move on. It will do alot for your wounded credibility. : : : Sincerely, : : : Eric : : : -------------------------------------------------- : : : : : xxxxxxxxxxxxxxxxxxxxxxxxxxxx : : : : TO: ALL : : : : FROM: KEN YOUNG : : : : Don't be hoodwinked folks. : : : : This letter allegedly posted by Dr. Leonard was not authored by him. : : : : What has happened is, the admistrator of this message board edited the real Dr. Leonard's posting to post the message holding me up for ridicule. : : : : I can document what I say with unquestionable proof when I say that Dr. Leonard did not poste the message holding me up for ridicule. Now what do you to that Mr. Administrator of this board? : : : : He simply went into his administration section and prepared the message impersonating Dr. Leonard. : : : : You see, in the letter he posted ridiculing me he stated quite a few things in the letter that proves that it was not Dr.Leonard, but in his game playing on the internet on different message boards, he flubs up in his postings on many messages giving himself away as a Charlatan. : : : : As a hint, one of the things he posted was that Dr. Leonard and I are friends, and I don't even know of a Dr. Leonard. : : : : Now let the Administrator of this message board find out what the other things are himself. : : : : Yes, I telephoned someone I knew about the subject matter asking him to review the string of messages between Eric and I. That person called me back and informed me that I was correct and that was the end of it. : : : : Dr. Leonard's posting came as much as a surprise to me that it must have been to the poster Eric. : : : : I believe the viewers of this message board who are seeking the answers to their questions from a person who doesn't impersonate other people would be better served visiting the internet address of http://100insurers.com where the administrator of that board will not tolerate such nonsence and he will remove the strings of messages that the administrator of this message board posts there also in his attempts to hoodwink the public on other message boards. : : : : Person's seeking qualifed information simply need not to be getting involved with someone who makes light of people's pain in their dealings with insurance companies when they have been abused, right Steve and Mike? : : : : You can view the forged message posting to this message board below, that being if the Administrator does not edit and/or alter this reply also. : : : : Mr. Administrator, you don't have the guts not to : : : : leave my reply stand as it was written, do you? : : : : xxxxxxxxxxxxxxxx : : : : : Mr. Young, : : : : : Please, my dear friend, do not misinterpret my conclusion. : : : : : Based on well-known and generally accepted economic principles I have declared Eric the winner of this debate. : : : : : I implore you not to impugn my credibility any further. Our friendship aside, I have a responsibility to the truth. My entire career in academia has been built on a formula of honesty and integrity. : : : : : Your friend, : : : : : Dr. Leonard, PHD. : : : : : Professor Emeritus

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