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To: ild who wrote (259939)	9/11/2003 11:07:48 AM
From: Tommaso	Read Replies (1) \| Respond to of 436258

>>>I wanted to stress that CPI inflation may not cause "increase in the volume of money and credit".<<< Well, yes. The collapse of a building does not create the dynamite that was implanted and detonated prior to the building's implosion. The creation of money and credit that is in excess of the output of goods and services causes a rise in the PPI and CPI. The inflation of the money supply precedes the rise in the indexes. The Fed has greatly increased the money supply and grotesquely increased the availability of credit, and the result will be both price and wage inflation.