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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (53844)2/14/2006 3:51:47 PM
From: GST  Read Replies (1) of 110194
 
<Inflation is best described as a net expansion of money supply and credit> LOL -- then you are living in your own little dream land and can do as you please. Whether money supply and credit are growing or not growing per se -- in and of itself -- matters not one bit to me or anybody else who lives in the real world (or the 21st century for that matter). It is a purely ideological viewpoint best suited to small gatherings behind closed doors where people who have nothing better to do wring their hands and pine away for the days of the gold standard.

One thing for certain in my view -- any definition of inflation that does not recognize that inflation refers to persistent price changes is irrelevant to a meaningful discussion of economics in the real world.
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