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Strategies & Market Trends : Bob Brinker, Moneytalk and Marketimer
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To: octavian who wrote (1682)10/22/2007 10:05:35 AM
From: Kirk ©Read Replies (1) of 2121
 
Kirk once seemed to think that high oil prices would cause high inflation, but, alas, he was wrong, and brinker was right as usual:

No .. you need to work more on understanding English.

I said "high oil prices are inflationary."

That means higher oil prices WOULD cause inflation IF other actions are not taken such as raising the Fed Funds rate above 4.0% where Brinker wanted it.

I was correct and Ben Bernanke and Bob's guest with the nobel prize in economics agree.

Oil prices are part of the CPI... that means CPI goes up when oil goes up and all the others stay the same... that is the definition of inflation. The Fed raised rates so other parts of the index went down... to offset the inflationary effect of oil on CPI.
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