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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: basho who wrote (88497)11/6/2007 10:42:33 AM
From: GST  Read Replies (2) of 110194
 
Thank you -- good post. Your post underlines some of the important reasons underlying price movements in Japan -- although it might have been helpful to discuss the role Japan's massive current account surplus and its high savings rate. Nontheless, it was great to see a coherent discussion of some aspect of money supply in Japan and its relationship to deflation.

Debating the complex nature of price movements and the extremely important issue of the future of the dollar and its implications -- these are areas where people can have fruitful and intelligent differences. I only complain when the conversation becomes idiotic instead of intelligent, and in my view you cannot have an intelligent conversation about inflation/deflation while refusing to accept that it has anything to do with persistent price movements. Once you acknowledge that inflation/deflation is about prices then we can examine the causes in greater detail. Is money supply important? We all know it is -- that has never been the issue. The issue is what holds the key to the future of prices - to the future of the dollar - and it is simplistic in the extreme to think that US money supply is all we need to look at. To define inflation as US money supply, end of story, is just plain stupid in my view.
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