SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Ask Michael Burke
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: JF Quinnelly who wrote (60552)5/25/1999 5:34:00 AM
From: Tommaso  Read Replies (1) of 132070
 
Actually at one point I over-indoctrinated myself with Friedman, reading his and Anna Schwartz's "Monetary History of the United States Twice." I had to learn through painful experience that Friedman did not allow sufficiently for the productivity growth that is in fact possible in emerging economies. According to his figures, we should have seen far more inflation than we have. But cheap oil and cheap goods from Asia have prevented this--or I should say, "plentiful" and therefore cheap.

If we ever have to pay the p[rice of our chronically (even morbidly) unbalanced trade with the rest of the world, I don't know what the consequences might be. It is as if we have an endless overdraft account--or as if a bank were not only lending money but buying things with artifically created accounts.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News