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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.19

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To: James F. Hopkins who wrote (13707)	5/12/1999 8:09:00 PM
From: pater tenebrarum	Read Replies (4) of 99985

The classic interpretation of inflation relates to growth in money supply, not rising prices. rising prices would be the effect of inflation. growth in money supply is abundant according to official statistics, so rising prices should follow, perhaps preceded by a currency collapse at some point. remember that overinvestment and out-of-bounds money supply growth led to the downfall of the asian tigers. i don't think the U.S. economy and the SE-asian economies are directly comparable, but some features are. i keep hearing about 'red-hot' real estate markets and the trade deficit is ballooning. AG doesn't talk about imbalances for nothing. although such imbalances can be sustained for quite a while, they depend largely on the willingness of foreign capital to continue to finance them. the usual outcome is that everybody tries to head for the exit at the same time, which then leads to the process known as 'creative destruction' and likely to yet another outage at e-trade<g>. regards, hb

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