Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (70623)	10/29/2007 11:04:22 AM
From: Tommaso	Read Replies (1) of 116555

Mish, One cannot simultaneously argue, as did Keynes, that "money doesn't matter" and also with Friedman, that inflation is everywhere and at all times a monetary phenomenon. If the monetary unit loses purchasing power in comparison with other monetary units, those holding the unit that is losing value will have to exchange more of that unit for what they buy. They will be outbid by the holders of the more valuable unit. Hotel rooms in New York City that not long ago were $200 a night are now over $300 a night because holders of euros, Czech coronas, or whatever can now afford them. Just one minor example.

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