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Politics : Formerly About Advanced Micro Devices
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To: steve harris who wrote (695621)1/27/2013 2:57:23 PM
From: combjelly  Read Replies (1) of 1574793
 
You do know there is a difference between inflation due to monetary reasons and inflation due to a shortage of goods? There was a drought last year. You might have noticed. A large percentage of our agricultural crops failed. Hence the rise in food prices. And, with the improving economies in India and China, oil prices have gone up. The difference is that if there isn't another such drought this year, food prices will go down. Inflation for monetary reasons is different. It tends to be across the board and nothing but deflation will move them back down.

Sorry about the big words.

For the record, I don't think deflation is really in the cards in the short term. That is a fairly recent development though.
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