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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 234.95+0.4%3:46 PM EST
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To: H James Morris who wrote (54168)4/29/1999 7:06:00 PM
From: KeepItSimple  Read Replies (3) of 164684
 
Just like I said dozens of times before, there IS rampant inflation going on.. Inflation higher than the country has ever seen- but the clowns in washington dont include paper assets in their inflation measurements! Every man, woman, and child in the US could each win 10 million dollars tomorrow in the stock market, and according to the government statistics it would have no affect on the number they track as "inflation"

From todays bill fleckenstein article: (so sue me)

These people have an agenda not to show any inflation. That's not to say we have a whole lot now as generalized CPI inflation is not raging, but it's certainly not as low as the government makes it out to be - just ask anybody who writes checks for things. Having said all that, the last place anybody's going to see it is in the employment cost index, because everybody's getting paid with stock options.

So the thinking is, we have a tight labor market and no inflation and that's what makes everyone feel so good. But I submit to you that the inflation that exists is largely bound up in the stock market and the housing market. We've had plenty of inflation - it's just gone into paper assets. By the way, just think of where the employment rate would be if people didn't have stocks to day trade and actually had to get jobs. So the rosy economic scenario is nothing other than a $15 trillion stock market. That's really the whole story.
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