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: mishedlo who wrote (33174)	5/25/2005 9:59:29 PM
From: rayok	Read Replies (1) of 110194

Did the deflating bonds of the seventies cause monetary deflation, or, did monetary inflation cause higher interest rates, which caused bond prices to deflate? Bond prices are the effect, never the cause. "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?"

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