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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: GraceZ who wrote (53715)2/13/2006 1:36:51 PM
From: mishedlo  Read Replies (1) of 110194
 
BTW if we used money supply as a measure of inflation and backed that rate out of the nominal GDP, we'd have been in an economic contraction since the early sixties. Some nuts like you might think this is the case, but no serious economist would characterize the US economy as such.

Inflation can raise asset prices such as stocks instead of the production of goods.

GDP itself is a hopelessly flawed measure in and of itself because of hedonics and imputations.

What we can say right now however is that it is taking more and more and more credit expansion to produce any rise in the GDP.
GDP will implode (flawed or not) when credit expansion stops.

That time is at hand IMO.

Mish
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