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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: patron_anejo_por_favor who wrote (15794)9/3/2000 11:50:11 PM
From: LLCF  Read Replies (1) of 436258
 
<In essence, stock and real estate prices, and the foreign deficit serve as reservoirs for FUTURE CPI inflation. >

Makes sense... although deficites have been run for decades and so far the world just continues to sop up those dollars... this was an issue when I was graduating in economics in 1975! Of course the dollar did get slammed around a lot back then.

< The media is choosing to focus on the consumer/service price inflation as the only meaningful gauge of inflation, which is wrong. That frequently happens during asset bubbles, though, and is one of the prime blind spots that allows continuing propagation of the bubble. Kindleberger also makes frequent reference to this in Manias, Panics and Crashes.>

When was this written??

DAK
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