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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (2321)	6/10/2003 7:30:05 PM
From: LLCF	Read Replies (1) \| Respond to of 4907

<What are you using for evidence to support this contention?> That the Fed is trying to make the economy go with money creation??? I listen to what they say, and watch what they do. What do you think they're doing? <That's the common wisdom and like most things that are widely accepted its not entirely true. If you examine the period you'll see that price and wage inflation was well in place before the various oil shocks. Nixon instituted price controls in 1971 before the 1973 OPEC oil embargo. > Yes, there was lot's of printing going on too, as you said, some was from MS icreases, somewasn't. Needless to say, the price of oil had plenty to do with price level increases at the time no? The Austrians would NOT look at that portion of the price level increase as 'inflation.. that's all I'm pointing out, I don't think there is argument here unless you're saying increased oil prices didn't cause general price levels to increase: Somthing I wouldn NOT look at as an inflation problem. <<You're 'real inflation' You need to read more carefully.>> Don't know what you mean... let's drop that one. <If one can't say Japan is inflating their definition doesn't work. Inflation always means that the value of your money is falling, there is no other way to measure that except prices. > I haven't seen the long term MS figures or price figures on Japan, so I can't comment yet. I do know that their boom and bust story is a classic example of the 'Austrian view'. DAK