Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (13719)	1/20/2002 11:51:48 AM
From: LLCF	Read Replies (1) of 74559

<For "too inflationary" there wasn't much sign of inflation. Maybe they meant too deflationary but were bamboozled by their Austrian jargon? > Yes, under their defenition... any number of products, or assets can get inflated. <The bubble was very simple - the irrationallyl exuberant thinking they were going to get rich quick, bidding prices to the sky. It was nothing to do with liquidity, money printing or inflation [yes, yes, I know we have a new category called asset inflation, but the word inflation is normally used to mean the goods and services we buy, not the price we pay for investments].> Yes, I know that's your opinion... but according to the Austrians...your thinking is exactly wrong. <The folks around here [this discussion] didn't start the doomstering until well into Y2K - I beat them by a year. > Tell that to CB... she thinks we're all stopped clocks! :) The key is what happens going forward... conventional economics says the lower rates will end the problems, the Austrians say it has little to do with the overinvestment that has occured and this will be one of the worst recessions ever [from what I can gather]... what do you think? DAK

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