Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Ilaine who wrote (14227)	1/30/2002 8:46:47 AM
From: LLCF	Read Replies (2) of 74559

<Everyone knows that inflating the money supply makes prices go up. And everyone knew that during the Great Depression, prices were spiraling down, starting months before the stock market crash in 1929. But nobody seems to have understood that deflating the money supply makes prices go down, or that deflation can feed on itself.> Ahhh, and Japan is different, they don't know how, even with our help to inflate?? How does the fed add enough money to make up for Billions in coupon payments halted due to defaults?? Or how about Trillions in consumer spending as they realize their broke?? Details, details... perhaps we'll see. Besides you've got the Friedman claim wrong I believe... he says they ALLOWED MS to contract [after the initial purposeful contractions], not that they continued to mean it to happen. He differs only in that he believes they could have done something, Austians don't. DAK

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