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

To: benwood who wrote (50499)	1/20/2006 5:05:39 PM
From: GST	Read Replies (1) \| Respond to of 110194

HI Benwood -- "monetary inflation" is a largely irrelevant ideological construct that does not fit well with a global multi-currency economy -- i.e. the real world. If my purchasing power is cut in half I care about it. I don't care about money supply per se -- except to the extent it has an impact on my financial position. Monetary inflation is meaningless -- price inflation is meaningful. And to those who would tell you that everything you need to know about inflation is captured by measuring money supply (US money supply no less) I just shake my head and smile -- it is absurd.

To: benwood who wrote (50499)	1/20/2006 6:42:57 PM
From: mishedlo	Read Replies (1) \| Respond to of 110194

Anyone that claims "monetary inflation" is a largely irrelevant ideological construct clearly does not know what one is talking about. Monetary inflation fueled the expansion in the 1920's and a collapse in credit triggered the great depression. Monetary inflation triggered the dot.com bubble even as the prices of computers and oil and copper fell. Anyone that claims "monetary inflation" is a largely irrelevant ideological construct clearly does not understand history, or how money works. Mish