Clown-Free Zone... sorry, no clowns allowed Message Board

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

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To: Moominoid who wrote (58613)	1/17/2001 3:33:45 PM
From: pater tenebrarum	Read Replies (1) of 436258

not so. you are looking at output that is a already adjusted for (official)inflation via the GDP deflator, not nominal output. but i agree with you that the 10% inflation estimate is likely an exaggeration, at least in terms of the CPI. however, the money supply has expanded at a rate well over 10% annually over the past 5 years, so using the classical definition, inflation is surely a problem that's bigger than the statistics are letting on. re. savings, the government savings are in large part an accounting scam of sorts, as cash is transferred from the SS fund and replaced with IOUs, while the IOUs that are privately held are being bought back. i will admit though that government has clearly profited from the windfalls provided by the bubble...it's also a classic text book case, as the last time a 4 year stretch of budget surpluses was achieved was in 1927-31. corporate savings? dream on. corporate debt to equity is at a post war high, in fact corporate debt has been on an equally explosive path as household debt.

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