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Gold/Mining/Energy : A to Z Junior Mining Research Site
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To: 4figureau who wrote (4345)5/8/2003 3:43:10 PM
From: Jim Willie CB  Read Replies (2) of 5423
 
still a shame that experts, pundits cannot define INFLATION

monetary expansion sows seeds of asset and product price inflation

but it also sows seeds of overproduction thru overexpansion
which brings price deflation from liquidation and debt default

so if you use their language, you get some nonsense

INFLATION BRINGS ABOUT INFLATION AND DEFLATION

I try hard to distinguish between monetary inflation and price inflation
we have had nonstop monetary expansion (inflation) since 1971
this process went into hyperdrive in 2001 and 2002
I dont expect it will stop, not with the Bernanke Pledge

THE FED IS STILL INFLATING
if they stop, the US Economy sputters and goes dead
this is precisely the warning of the Austrian School of Economics

we are accelerating the money supply
we get no economic growth for our monetary expansion
because debts are defaulting rapidly
because product liquidation from overproduction is unfettered

I find it humorous to the point of tragic, that the Fed believes (and the public buys into it) that Fed monetary inflation can fix the forces behind price deflation

THEY CANNOT
when applied, monetary inflation will cause massive monstrous distortions
the end result is what Puplava describes as the Perfect Storm
bigtime price inflation in necessities
bigtime price deflation in discretionary and business products

I eagerly await the 2nd Leg in the New Paradigm Recession
led by the decline in Real Estate and Housing
in progress now
/ jim
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