Deflation Message Board - Msg: 18257416

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Non-Tech : Deflation

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To: ahhaha who wrote (165)	11/20/2002 8:26:53 PM
From: Maurice Winn	Read Replies (2) of 621

Okay Ahaahaha, if you are serious, I guess my puny jokes are a waste of space. I did reply to what seemed to me like a silly verbal game re the definition of deflation. Message 18227015 To have wild inflation running rampant but to call it deflation is destruction of language. We have to start with the meaning of words. I had thought that deflation means prices decreasing [overall as measured by a consumers price index or some way or other]. You mean it to mean the rate of increase in prices reducing, which of course means that about half the time we'll have deflation and slightly more than half the time inflation. That is unless prices drop more quickly than prices rise, which would reduce the time of deflation, or, unless prices rise more quickly than prices fall in which case we would normally live in deflationary times with inflation being abnormal, even if it runs for decades at a time with prices rising at perhaps 20% per year. Sometimes prices would rise at 24% a year and then deflationary times would occur and price rises would reduce gradually to 16% per year, then we'd have inflationary times again .... I think you will already be bamboozled because the words are NOT used like that. Deflation means prices dropping. Inflation means prices rising. I'm not prepared to try to have a discussion unless the words have some meaning - preferably of common usage so others can understand the Alice in Wonderland world we would create with inflation running at 18% but we'd be calling it deflationary. I haven't yet found [other than a couple of instances] that this dictionary conflicts at all with my understanding of meanings: dictionary.reference.com <A persistent decrease in the level of consumer prices or a persistent increase in the purchasing power of money because of a reduction in available currency and credit. > Here's disinflation: dictionary.reference.com < Downward movement of inflated prices to a more normal level.> If we can agree to the meaning of words, we could make a quantum leap in discussion. Mqurice

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