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To: Amy J who wrote (28506)	3/22/2005 2:33:28 PM
From: gpowell	Read Replies (1) \| Respond to of 306849

"Certainly made mincemeat of the silly arguments at the time that inflation was a "structural problem" rather than simply the lack of monetary discipline that it actually was" and his next sentence is, "Now we have deflation. How long before Bush puts on his 'Whip Deflation Now' pin." RE: [when you were claiming to have an econ degree from UC Berkeley (don’t see you touting that anymore, BTW]. You're much too intelligent to resort to this comment. Argue him on logic instead and acknowledge those areas where you might agree. When someone uses a degree in order to bolster an argument then it is correct, mandatory in fact, to question that degree. Argue him on logic instead and acknowledge those areas where you might agree. How dense are you? Did you not get it that elroy is now advocating the same deflation policy as Milton Friedman did in his 1969 essay "The optimal quantity of money". Go back and read the exchange, I have provided references to major assertions and invited Elroy to argue history and theory - his only response is evade the fallacies and contradictions inherent in his assertions.