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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: jmiller099 who wrote (80718)6/27/2008 12:28:17 AM
From: koan  Read Replies (1) of 116555
 
The great John Kenneth Gailbraith said (I think-lol): "the most effective means of transfering wealth from the poor to the rich is through inflation.

The rich can find vehicles to float with inflation or hedge inflation. The middle class and poor often live pay check to pay check, on fixed incomes, more or less, and are not afforded the luxury of addressing rampant inflativon effectively.

Economic theory is like law, many ideas. It seems to me a low inflation like 2% sort of acts like a grease, like a social relief valve, to the wheels of comerce and how societies develop in an orderly fashion.

But I do not have the knowledge to refine the theory past that. I tend to agree with Keynes though. His ideas make sense ot me, He was chit as smart. He predicted the great depression becasue he understood its cause.
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