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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: NOW who wrote (93780)4/16/2001 1:44:01 PM
From: pater tenebrarum  Read Replies (2) of 436258
 
most importantly, he confirms what i said last week: the ECB has GAINED credibility by standing firm. ignore the propaganda to the contrary...

well, we know that there are inflationary pressures...but i still think it's a cyclical phenomenon within the larger deflationary trend.
e.g. the concrete example from Noland's report, rising rentals due to higher utility bills, increase deflationary pressures elsewhere, as they contribute to falling demand.
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