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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread
VTI 340.140.0%Jan 8 4:00 PM EST
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To: gronieel2 who wrote (6968)2/27/2012 1:12:13 PM
From: joefromspringfield3 Recommendations  Read Replies (2) of 10065
 
I sent an Email to Burton Malkiel after he was the guest on Moneytalk. Here is what he said:

-----Original Message-----
From: Burton G. Malkiel
Sent: Sunday, April 29, 2007 7:48 PM
To: XXXXXXX
Subject: Re: Bob Brinker's Moneytalk

XXXXXX wrote:

Dr. Malkiel

I really enjoyed your appearance last Saturday on Bob Brinker's
Moneytalk. As an investor with 40 years of experience I have learned
lessons that support many of the things that you discussed. I tried to
call in but the lines were busy. I had a question about high oil
prices and inflation. A friend and I differ on the issue of whether
high oil prices are inflationary. One of us thinks they are while the
other says they are not because they act like a tax. Neither one of us
are economists. We would be interested in the thoughts of a noted
economist like yourself on this issue. I know that you are a busy man
with many responsibilities and I will understand if you do not have
time to respond to my question.

Both views are correct. Oil is one of the prices in the price indexes
but unless the monetary authorities loosen up (as they did in the first
oil crisis of the 1970s) broad scale inflation will not follow. This is
why I took a somewhat different view from Bob, the host. I think Ben
Bernanke must not ease too soon so inflation does not creep into wages
and other prices. High gas prices certainly are a tax and have contributed to the slowdown in Q1.
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