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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 (33950)	7/21/2005 1:54:30 AM
From: gpowell	Respond to of 116555

Growing the "Money Supply" twice as fast as growth in the economy is not just like an economy based on a "Gold Standard." You have consistently failed to understand the difference between bank created money and reserves. I understand your blind allegiance to the bankrupt Monetarist philosophy compels you to defend the indefensible, and you're willing to look the fool in doing so. You adhere to a simple version of the quantity equation, whereby money plays an exogenous and causal role in inflation and you label others monetarists? For some people, every type of aberrant behavior is an example of prudent restraint. I'm glad you're not a neighbor. I'm sure you are a lot more familiar with restraints than I.