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To: Morgan Drake who wrote (2794)6/20/1999 12:06:00 PM
From: LindyBill  Read Replies (2) | Respond to of 54805
 
My definition of Inflation is:

A general increase in prices due to the money supply rising faster than productivity

To read the papers, you would think that inflation is:

A general increase in prices

I don't think it is a conspiracy on the part of the media to misrepresent inflation, I just think they are all Liberal Arts Majors who flunked econ 101.

Morgan, we don't disagree on this, I think. Our biggest asset the last 10 years has been Greenspan, who also understands this. But, he also understands Politics, and has to play the game.




To: Morgan Drake who wrote (2794)6/20/1999 7:33:00 PM
From: mauser96  Read Replies (1) | Respond to of 54805
 
Good point. You don't need several post graduate degrees to realize that if more money isn't available, when you spend more on one thing you have to spend less on something else (excluding debt). I can't understand why so many erudite economists can't grasp this simple principle. Do they run their households like they recommend we run the government?


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