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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (21234)	11/2/2004 7:13:14 PM
From: Wyätt Gwyön	Respond to of 110194

i'm sure we can agree on the point that money supply growth is the fount of inflation isn't one of Nolan's big points that the traditional aggregates do not capture the whole picture--thus he looks at credit growth. it can hardly be argued that credit has grown tremendously, and this has led directly to inflation in things like houses and everything that goes in them. then with paper profits, people buy more stuff, causing further inflationary pressures.