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Politics : Formerly About Advanced Micro Devices
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To: Tenchusatsu who wrote (798608)8/1/2014 11:35:52 AM
From: combjelly  Read Replies (1) of 1582248
 
Housing, for example, is not considered to be as important to the Fed's calculations as it is in the CPI.

Uh, we had a housing crash a few years ago. We would be in real trouble if they weren't going back up. Now, a certain amount of this is due the the various QEs. That, in fact, was by design.

Which in effect has the same impact as generalized inflation. More money chasing after the same amount of resources.

And has absolutely nothing to do with the various QEs.

Can we agree that Austrian School got it wrong? Their reasoning that increasing the money supply would lead to high inflation was wrong. You have pointed out several things that can cause inflation, but with the possible exception of housing, none have anything to do with the expansion of the money supply. Even if significant inflation were to occur, they still will be wrong because they have settled on the wrong mechanism. Stopped clock and all.
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