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

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To: mishedlo who wrote (75977)	12/18/2006 2:30:43 PM
From: russwinter	Read Replies (1) of 110194

<inflation is a monetary thing?> Inflation is NOT just a monetary and credit thing, it is also a confidence in currency relative to goods and services thing. People and participants will make independent and group think judgments. That's what GST has been trying to tell you, and he is correct. I finally took the trouble to read through your exchanges, and although I'd have to throw penalty flags at both of you (and suppose me, for use of "crap"), here's how I score the debate: GST 85, Mish 15. When hyperinflation broke in Germany in the early 1920's, the central bank had already greatly slowed the printing presses. But people lost confidence in their money any way, because the stage had been set. There was a very big speculative component to that and other big inflations EVEN WITHOUT central bank accomodation. We are in a similar situation, and six passes in three weeks doesn't help. That's why the Fed MUST NOT deal with a slowdown (with a back drop of raging speculation) with any suggestion of a printing press run now. Just asking for it.They need to shut down the Riskloves here and now, and fast!

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