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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (116878)	11/8/2008 7:13:05 PM
From: geewiz	Read Replies (1) of 132070

Hi Mike, Every six weeks or so I climb out of hibernation to post on SI... What station platform are you standing at on the approaching deflation/inflation train? I'm on the inflation platform but beginning to doubt my conviction. There's no doubt that every ounce of public policy is bent on inflating this debt, yet as more and more of the rot floats to surface I begin to wonder if we are watching the last failure of monetarism; the portion that advocates curing debt with more debt. Just a recent newsclip from this weekend: U.S. insurers can seek thrift charter to get gov't cash The contridiction that keeps me on the inflation platform comes from my understanding of economic history; as I recall, a deflationary environment is associated with a strong currency and high savings rates. Both in short supply lately. There are clearly a few Joe plumbers who cling to the trickle-down portion; it failed most folks when they took out the home-equity line of credit to cover their bills. Thoughts appreciated! Art

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