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

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To: John Vosilla who wrote (56081)	3/17/2006 1:35:30 PM
From: mishedlo	Read Replies (2) of 110194

With all due respect haven't you been saying inflation was currently low for the last 1-2 years? Given my position that inflation - expansion of money and credit , not really. Monetary injections have slowed (although it seems they picked up again this year), and I felt that because those injections have slowed that it would affect the expansion of credit. So far it has not. Expansion of credit is for all practical puroposes outside control of the FED. I have also said the CPI is understated. Many times. I can find it in my blogs and here as well but I do not have time. However, I have said that although the CPI is understated, it is nowhere near as understated as many people here think. I believe that to be accurate but I am guessing at what people think it is. It certainly is higher than 2.5% or whatever nonsense the government reports it at. I have said a zillion times that I think food is cheap, and I still feel that way. Others disagree. Finally, (I assume by inflation you mean prices) but no one has yet proposed a basket of goods and services in spite of many many proddings by me to GST to and others to do so. Regardless, tracking prices is a fool's game anyway because there is no fair way to do it, and no way to accurately account for improvements in quality which are subjective, etc etc etc, reasons I have given a dozen times at least. Have prices gone up? Yes. More than the govt says? Yes. I admit that and so will Heinz and so will anyone that is honest. How much more than reported? Who knows because no one has proposed a reasonable basket of goods and services to track. It can't be done and that is probably why we use the CPI in the first place. It allows for government manipulation. In that regard, I do not even know what low or high really means. It's for the most part just a pack of lies. Mish

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