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Politics : Ask Michael Burke

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To: Les H who wrote (70478)	11/13/1999 8:13:00 AM
From: Freedom Fighter	Read Replies (2) of 132070

Les, I don't disagree with the desire to get a clearer picture of inflation by smoothing out the moves a little. But the idea is being abused. At a basic level, if people are paying a lot more for food, tobacco, and energy, they have less money available for "core" items. So either there is some leveling effect between the two over time or persistent increases mean something. Some sort of rolling average of all items is probably a good idea. Now try convincing the "bulls". That's sort of like explaining the dangers of drug abuse to a crack head. (g) Actually its more like trying to explain to AG.com that when stocks move 30 points a day it isn't because of declining risk premiums, high return on capital, earnings or interest rates. It's because he's destroying the financial system by continuing to give the crack heads another fix. (g) Wayne

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