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

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To: gregor_us who wrote (82683)6/13/2007 2:43:31 PM
From: GST  Read Replies (3) of 110194
 
Thanks. But Mish is not an economist, nor does he have support from economists, including monetarists. If this was merely a matter of differing with monetarists I would not have bothered. Monetarists see money supply as a force driving inflation. Mish does not see money supply as a force driving inflation -- he has this weird idea that a driving force and the thing being driven are one and the same thing. It would be like a safety expert saying that drinking beer at a bar causes deadly road accidents, and then having Mish conclude from that statement that drinking beer "is" a car accident. Applied to highway safety, we could then stop worrying about car crashes and focus all of attention on beer. Whenever anybody drank a beer we could say "look, another car accident just happened". Motor vehicle safety experts would not want anybody to misrepresent their views in this way, nor would they want anybody to think that drinking a beer "is" the same thing as a car accident.
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