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Politics : View from the Center and Left

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To: JohnM who wrote (174445)	10/24/2011 11:07:12 AM
From: Steve Lokness	Read Replies (1) of 541490

<<<<<Probably not: whatever the likes of Ron Paul may believe, money creation isn’t inflationary in a depressed economy.>>>> Good to see Krugman finally giving Paul's thinking some ink! The very definition of "inflation" is the creation of (lots) more money. ......."Economics. a persistent, substantial rise in the general level of prices related to an increase in the volume of money and resulting in the loss of value of currency" (definition 1 Dictionary.com). .....Volume Paul, Volume! <<<<Europe actually needs modestly higher overall inflation: too low an overall inflation rate would condemn southern Europe to years of grinding deflation>>>. Yup, this is what Krugman wants; Inflation! The constant eroding of the money a person has. Those people who have saved for their retirement will have a decreased standard of living. Who will inflation help? Those people with tons of debt. To think there is not inflation now is pure fantasy. I paid 3.89 for cheapest grade of gas last week. Anyone going to the grocery store is not paying attention to prices if they think there is no inflation. Health care up, education up. ..........Even SS payments are going up 3.6% next year. Annnnd does anyone think this might be the end of inflation? .........Imagine what gas prices might be now if Krugman had gotten his way on the original stimulus plan? Yikes.

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