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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Horgad who wrote (75487)12/13/2006 10:56:06 AM
From: GST  Read Replies (3) of 110194
 
My point is simply that Mish is flat wrong on what is going to happen in the next few years -- and wrong for deep and powerful reasons:

Message 23098010

Once you let go of the idea that inflation is about prices, you turn your back on reality and enter an imaginary world that is increasingly divorced from reality. It might not be pretty, but my view is that reality is better than delusion. If anybody actually wants to understand the bond bubble then you had better grab reality by the horns. Once you drink the coolaid and say that money supply is inflation, there is no turning back -- no way back to reality.

Inflation is about price levels, and there are factors other than monetary policy driving inflation. These other factors are growing in importance and combined with monetary policy are setting the direction on inflation. If you ignore these other factors you will be dead wrong on inflation.
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