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

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To: mishedlo who wrote (56101)	3/17/2006 3:38:54 PM
From: GraceZ	Read Replies (4) of 110194

While I'm a big fan of a fixed low rate of money expansion, taking away the discretionary power of the Fed to attempt to engineer prosperity by jerking it around, I would never make the obvious error of thinking that a steady 2% rate of money expansion would give us a steady 2% rate of "inflation". The only way one could make that error is to define inflation the way you do and almost no one else does. Inflation as you define it means nothing to the average person who will be the one who has to withstand the pain of a decline in the value of their money. Aside from that, the money supply is an economic abstraction and can't be accurately measured any more precisely than that basket of goods you keep asking about! A common housewife can define inflation better, "My money doesn't buy what it used to."

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