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

To: Elroy Jetson who wrote (6654)	5/18/2004 8:25:41 PM
From: Tommaso	Read Replies (1) \| Respond to of 116555

Friedman not horrifying. He was not advocating that course of action. I can think of all sorts of true things I might say for effect that would be much worse than that, but merely that I pointed out that they were possible does not mean I favor them. For example, to bring real estate prices down in California simply construct a pier extending two miles into the Pacific Ocean and march all Californians off it. This would result in a great deal of vacant housing.

To: Elroy Jetson who wrote (6654)	5/19/2004 2:06:13 AM
From: DOUG H	Read Replies (3) \| Respond to of 116555

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. This from Friedman does not seem at odds with Rist. ""A policy aimed at monetary stability will secure a relative stability of prices, but the economic history of the 1920's teaches us that a policy whose goal is stabilization of prices may result in inflation of money and credit, and very unsound speculation."""