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

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To: Joan Osland Graffius who wrote (160995)	4/19/2002 7:00:02 PM
From: Perspective	Read Replies (1) of 436258

People talk about the 'flations all the time. Will we have inflation or deflation? The answer is: yes. We will probably have both. We have had both, in spades, in recent years. History suggests capitalist systems operate most efficiently in an environment of stable pricing for everything. Of course, that doesn't happen in reality. You have idiots that have kept adding capacity, which results in relative deflation at the finished goods level. The excess money ends up finding its way into other things, though. It chased stocks, and now real estate, resulting in significant inflations there. Remember, it's all supply and demand. People can only consume so much crap, and then the excess money flows into the assets catergory: stocks, bonds, homes. Unfortunately, the conventional wisdom is that commodity and finished goods inflations are "bad", and asset and stock inflation are "good", because they make debtors and creditors both look better and encourage further monetary creation. The reality is that monetary stability is the only right move for the long haul. BC

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