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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: GST who wrote (75504)12/13/2006 1:02:14 PM
From: Horgad  Read Replies (1) of 110194
 
Mish may or may not be wrong about his deflation predictions, but I don't think it will have anything to do with how he defines inflation.

As for myself, the only factors that I see driving inflation are monetary policy and past monetary policy. The complexity of the local and global economies just add noise to the picture making it difficult or impossible to predict when, where, and how the inflation will show up in a way that it will be recognized. In my opinion when the money is printed, the inflation is put into the system. It is there whether we can see it or not and it is there whether Joe Sixpack is currently feeling it or not.

Thinking otherwise is leading some people to think that we can continue to print money willy-nilly with no adverse consequences as long as the global economy continues to "absorb it" and as long as prices in the US remain affordable. I don't think that you feel that way...but by not calling printing money, "inflation" and rather saying it is one of many possible causes of inflation, too many doors and loopholes are being left open.

Doors and loopholes that politicians are happily going to exploit as they use every possible excuse to spend more and more money that they don't have. And all the while they will be happily waving papers filled with prices of things and saying look no inflation!

IMHO
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