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

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To: John Vosilla who wrote (35674)	7/10/2005 1:05:15 PM
From: philv	Read Replies (2) of 110194

So far we have had a combination of both, (stagflation). And I can't see any change in the near future. Throughout history there has been nothing but inflation, although bubbles have come and gone. My definition of inflation is increase in money supply and debt. Nobody believes the FED's inflation figures. They of course look at prices, but seem not to include some of the big inflated price increases such as the cost of housing. Other than at Walmart, look at the cost increases in government services, health care, taxes, commodities, etc. And what happens if/when the Chinese re-value the renmimbi? The public's ability to absorb price increases is just as astounding as the accompanying debt. It is a good thing because wages are stagnant. At the same time, some of the large price increases such as real estate and some commodities may correct. It has done so in the past and hasn't cause a severe recession. The ability of the FED (in concert with foreign CBs and governments) to control economic events and avoid catastrophic financial events has been demonstrated time after time, and why should it be any different in the future?

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