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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Joan Osland Graffius who wrote (231968)3/28/2003 3:40:59 PM
From: Mike M2  Read Replies (1) of 436258
 
Joan, I guess it depends on what you mean by inflation . Grant is an adherent to the Austrian school ( tough love economics) I agree that the stage is set for debt deflation and a contraction of credit- as time goes on more people will be unwilling or unable to borrow. We know that the Fed will do everything that they possibly can in an attempt to prevent deflation and they are quite happy to destroy the US$ if necessary - history suggests the Fed will fail but as grant said the Fed is arrogant. mike
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