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To: patron_anejo_por_favor who wrote (97163)	4/22/2001 6:40:50 PM
From: Ilaine	Read Replies (1) \| Respond to of 436258

This "degradation of service" argument is a new one on me. What does it mean?

To: patron_anejo_por_favor who wrote (97163)	4/22/2001 7:50:16 PM
From: Mike M2	Respond to of 436258

Patron, yes gov't doesn't layoff they just raise taxes and print money ( hidden inflation) mike

To: patron_anejo_por_favor who wrote (97163)	4/23/2001 9:40:33 AM
From: Ilaine	Respond to of 436258

The reason I was thinking maybe Greenspan is right about inflation is that the latest data on M1 and M3 with M2 backed out show that they're going down - if the monetary base is shrinking then we have deflation, right? At the same time a lot of prices are going up, e.g., energy. That's stagflation, which is no fun at all. I don't think we've seen that since the 1970s. Prices go up, real wages go down, it's miserable. Volcker raised the Fed Funds rate to 19% in 1981. federalreserve.gov Maybe consumers are rushing to buy now before prices go up even more. That would make sense. Savings erode during inflation, why bother?