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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (26209)	12/17/2002 12:55:27 AM
From: Maurice Winn	Read Replies (2) \| Respond to of 74559

Huh? That graph runs for a few days. Inflation is measured in years. House prices have gone up, everything else seems to get cheaper. Services seem stable in price. There's no scary deflation. The inflation that exists is still in the 0 - 3% range from all I see, including in the US$ realm. Uncle Al KBE, our great and glorious hero, is still in success mode in maintaining the US$ as the world's pre-eminent currency with a constant value in terms of what really matters, which is how many of them are required to hire the median human for an hour. The USA has hit the jackpot because they can print their money flat out and still not get inflation because a couple of billion Chinese and Indians are coming on stream. They [Chinese and Indians] work for so little that for a few years yet Uncle Al [or successor] will be able to print away without inflation. Their [Chinese and Indian] low pay, combined with the turbocharging technology productivity boom, where a negligibly cheap bit of circuitry and software enables vastly increased production per person per hour, means people can work a few hours and produce what used to take them days, weeks, months or years to achieve [and in many instances simply could not be done without said technological marvels]. It's a wonderful world. Mqurice