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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: skinowski who wrote (66160)6/13/2007 4:51:56 PM
From: Steve Lokness  Read Replies (1) of 116555
 
skinowski;

but the fact that public employees are evolving into a privileged class - of sorts.

Yes, exactly! A huge privileged class that for the most part produces nothing. Are not their jobs secure? They can just up taxes - or fees - and so then how does that factor into the inflation picture? Do you see these fees and taxes - especially on state or local level - diminishing? So your local property taxes go up and up. Is that inflation? It's not creating more money as in Mish's inflation definition. Or maybe it is; is it the endless printing of money that allows for this "privileged class"? I can't get my mind around how that then eventually leads to deflation?

steve
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