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

To: Tommaso who wrote (50466)	5/25/2004 5:28:47 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

<So you are waiting for a great deflation? Have you bought a house, paid a college tuition bill, bought a gallon of milk, filled up your gasoline tank, or gone to the dentist in the last eight years?> No Tommy, I don't think there will be a great deflation. Where did you get that idea? You obviously have an understanding problem. I have ranted for years in the Great Deflation stream that we won't have one, though before the Y2K crunch came, I wondered whether we might get a cascading collapse, but had decided that Uncle Al would do as he did and head it off at the pass. Which he did. I have bought airline tickets, computers, phone calls, cyberspace services and find that many things are much cheaper than they were. I have bought clothes and tools and heaps of "Made in China" things and they are cheap cheap and cheaper. I can hardly keep up with how easy life is becoming and how little one needs to work to buy things. Cars are almost disposable now. People hardly change oil any more. It used to be a year of work to buy a second-hand car. Now they are not quite free, but not far from it. Actually, cars which I used to think quite valuable are actually now free. I fill the petrol tank and go for a long way compared with filling my old 1951 Hillman, or 1974 Toyota per dollar. I use almost no lubricant. Inflation has run at low levels for 15 years. No, I don't follow the Federal Reserve Bank of St. Louis publications. No, I don't know what the USA government puts in the CPI calculations. I dare say it's reasonably representative of what people buy. Mqurice