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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: orkrious who wrote (189484)8/26/2002 11:24:14 PM
From: Oblomov  Read Replies (2) of 436258
 
>>I believe my Perfect Storm thesis is what we are going to see.
>>There will be deflation in credit related and luxury goods while we have severe inflation in key raw materials and in basic goods.

Isn't this contradictory? Raw materials and basic goods are purchased by manufacturers via a system of credits. If the credit system blows up, then these goods will also experience price deflation. Of course, in the 1930s, the value chain collapsed, to use the Austrian phraseology, and so luxury goods prices deflated more than raw materials prices. But raw materials prices still deflated.

More likely than Puplava's scenario, I think, is deflation in the prices of goods, and inflation in the prices of services - in other words, more of what we have already been experiencing.
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