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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Peter Joseph who wrote (6634)5/18/2004 3:53:51 PM
From: philv  Read Replies (2) of 116555
 
Here is what Milton Friedman said....1998

FRIEDMAN: Because we know how to prevent deflation. There's
nothing easier than to stop deflation, print money. On the other
hand, history has shown that over and over again there's a great deal
of pressure to print money for reasons other than preventing
deflation,. Namely in order to provide resources to the governing
powers or the powers that be. Right now inflation is relatively low.

Alan Greenspan and the Federal Reserve have done a good job of
keeping monetary growth low and fairly steady. But that's an
exception in the history of the Federal Reserve. It's an exception in
the history of other central banks. So I don't see any chance of any
significant rise in inflation for the next year or two, but beyond that
it would be a bold man who would say that sometime in the next
ten years we will not have a burst of inflation.
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