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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Peter Joseph who wrote (6634)	5/18/2004 3:53:51 PM
From: philv	Read Replies (2) \| Respond to of 116555

Here is what Milton Friedman said....1998 FRIEDMAN: Because we know how to prevent deflation. There's nothing easier than to stop deflation, print money. On the other hand, history has shown that over and over again there's a great deal of pressure to print money for reasons other than preventing deflation,. Namely in order to provide resources to the governing powers or the powers that be. Right now inflation is relatively low. Alan Greenspan and the Federal Reserve have done a good job of keeping monetary growth low and fairly steady. But that's an exception in the history of the Federal Reserve. It's an exception in the history of other central banks. So I don't see any chance of any significant rise in inflation for the next year or two, but beyond that it would be a bold man who would say that sometime in the next ten years we will not have a burst of inflation.