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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: GST who wrote (75223)12/10/2006 9:47:52 PM
From: pogohere  Read Replies (1) of 110194
 
Thanks.

You have described a number of reasons why prices increase and decrease, among them supply/demand, labor availability. And you choose to deal with this issue under the rubric of inflation/deflation. No one seems to have disputed that these are factors in the setting of prices, but some of us believe that the notions of inflation/deflation are not fully addressed as merely the rise and fall of prices.

I believe there is a legitimate role for the analysis of the impacts on price levels of savings, money creation and credit creation, aside from the factors you consider. And I believe that the discussion of inflation/deflation becomes much more meaningful when described that way. I don't find the adherents to the Austrian school of economics to be a fringe element, wherein the relationship of savings to credit supply plays a large role in the analysis of where the price level is headed. You seem to feel that it is a fringe element and don't countenance that point of view. You and I disagree about this.

I think that's unfortunate because you are a rather keen observer of what's happening in the world I think you could contribute to a discussion of the role of savings and money/credit creation to the price level in conjunction with the elements cited above (supply/demand, labor availability).

I would be interested to see you take on those elements (savings and money/credit creation) as they effect price levels and share your thoughts about them in particular. However, I understand you to be saying that is not worth your while under any circumstances. So be it.

Thanks again.
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