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Politics : Foreign Affairs Discussion Group
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To: TimF who wrote (263013)4/29/2008 3:05:02 PM
From: c.hinton  Read Replies (1) of 281500
 
Tim, it is the Federal Reserves argument ..

as to your counter argument.... could you please make it clearer.

all that "higher without high" sounds like goobly gook

"But the lack of refinancing under such conditions is because of the rates not because of the inflation, and the rates are higher because inflation is higher, not because it is high. (To explain the distinction, imagine someone who financed with very low inflation and nominal interest rates, moving to moderate rates for both, gives you higher without high, OTOH if you financed with high inflation and nominal interest rates, than staying at high rates gives you high, but not higher.)"

Ps you cant separate inflation from interest rates unless you are willing to loan money at a loss.
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