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Pastimes : All Clowns Must Be Destroyed
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To: re3 who wrote (39484)6/13/2000 5:30:00 PM
From: pater tenebrarum  Read Replies (6) of 42523
 
in the 14th century, the plague cause several severe economic contractions (hand in hand with a decimation of the population) and deflations that were followed by wild inflationary spurts. but on balance, prices remained more or less unchanged for about 250 years. quite remarkable actually. the first continuous acceleration in the cpi began in the early 16th century lasting into the early 19th century, peaking in 1812. then a deflation took prices down again, and while there were ups and downs in between, the cpi was essentially unchanged from 1832 - 1932.

but since then, the acceleration in inflation has been a real whopper...unique in the history of money. it may to some extent explain why stock prices have risen so much. they partly reflect that the dollar one buys stocks with has lost so much of its value.
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