The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Tommaso who wrote (33164)	5/25/2005 1:54:04 PM
From: mishedlo	Read Replies (2) of 110194

Well, no, Mr. Prechter. A drop in the dollar value of total credit extended is inflation. The drop in the value of bonds reflects a belief that the dollars in which they are denominated will be worth less in the future because prices are rising. A loss of confidence in the value of money IS inflation. A drop in money supply is deflation Confidence about money may spark fears of inflation but it is not inflation per say. I believe this statement from Milton Friedman "Inflation is always and everywhere a monetary phenomenon" At any rate it is preposterous to say "A drop in the dollar value of total credit extended is inflation". Care to try again? Mish

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