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

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To: benwood who wrote (94179)	5/13/2008 4:45:17 PM
From: GST	Read Replies (2) of 110194

<a lot of out trading partners have amassed huge war chests of these dollars> It urks me to hear you say that inflation can be defined in multiple ways when the definition so often offered conflates cause and effect in the most absurd manner -- and it urks me that so few seem to grasp the essential process by which our trading partners have amassed huge war chests of dollars. These war chests are the result of our current account deficit. So long as we have a massive trade deficit and so long as we require capital inflows to cover our national and household debts we will have a weak dollar and thus we will have inflation. There is no problem with looking at money supply -- we should all do that. But we should NOT STOP THERE as money supply is but one of several things that can make our prices skyrocket. To say, as some have, that prices don't matter is horse manure -- they do matter and they are threatening to spiral out of control without any impact worth mentioning one way or the other in terms of how many greenbacks are printed next month.

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