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

To: GraceZ who wrote (53680)	2/13/2006 11:16:14 AM
From: Elroy Jetson	Read Replies (1) \| Respond to of 110194

The difference between the "Austrian" definition of inflation and the convoluted "Monetarist" definition of inflation is similar to . . . . . . the way Grace Zaccardi calls monetary devaluation both "prosperity" and "capital gains". When the value of the U.S. dollar declines 40% (due to excess money and credit creation) and the resulting inflation pushes up the nominal price of assets, and most things people need to live, tremendously, you point to the "great prosperity" this devaluation has created, as evidenced by nominal tax receipts. Great prosperity at least for those people who don't eat, don't use energy and don't need a place to live. I'm not certain if you are too ignorant to see through your own sham logic, or whether you simply cannot stop yourself from lying compulsively. .