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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: BGR who wrote (71610)	12/9/1999 9:11:00 AM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

BGR, I don't dispute the difficulties in measuring the needs of the economy and controlling money and credit expansion. I recognized them in my comments. That's the core of the issue. But just because "I" can't measure the proper level of money and credit expansion doesn't mean I can't recognize imbalances. The single minded focus on CPI is more flawed than the alternatives available. Saying the equivalent of "show me how to measure the needs of the economy and then we can talk about the other potential imbalances" is worse than saying "look at all the facts not just CPI". Either way the current system is seriously flawed. Wayne

To: BGR who wrote (71610)	12/9/1999 10:45:00 AM
From: Mike M2	Read Replies (2) \| Respond to of 132070

BGR, I think my reply detailing the ratio between credit growth and GDP growth quantifies a clear trend of an inflationary credit growth. The five dollar credit growth for one dollar of GDP growth clearly shows that credit is being created for the purpose of speculative and consumption- not productive purposes. Forget the macro picture lets get micro. if you were to loan me money you would want to know what i intend to do with it. if I used the proceeds for consumption or speculation would you not be concerned about my ability to repay this loan? Wouldn't you prefer to see me use the money to equip a machine shop or set up a massage parlour? ho ho ho Mike