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

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To: Mike Johnston who wrote (51430)	1/25/2006 6:18:17 PM
From: GraceZ	Read Replies (3) of 110194

Almost no one would use gold as an indicator of the current rate of inflation. Just think if you used gold as an indicator all through it's 20 year bear market, you'd have understated inflation by a serious amount. Nor would most serious economists see the rate at 6%! People don't agree on what inflation is, but it does have a real definition. Where do you live, Manhattan? If one worked in the hospitality sector (a low productivity growth sector) and lived in a place where incomes have risen sharply over the years due to sharply rising levels of productivity as well rising net worth due to a steady influx of multi-generational wealth, like NYC or San Francisco, someone could have a very warped view of inflation.

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