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

To: mishedlo who wrote (53997)	2/16/2006 11:58:45 AM
From: basho	Read Replies (1) \| Respond to of 110194

Yep, that seems a pretty good definition to me, Mish. Kind of gives a passing nod to everyday usage while still honing in on the primary factor. Anyway, good luck. This whole thing seems in some strange fashion to have become a matter of honour.

To: mishedlo who wrote (53997)	2/16/2006 12:16:30 PM
From: John Vosilla	Read Replies (1) \| Respond to of 110194

"A persistent increase in the level of consumer prices or a persistent decline in the purchasing power of money, caused by an increase in available currency and credit beyond the proportion of available goods and services... "He says the US$ is in a bubble but will not say why.He implies inflation is rampant but will not describe his measure or his basket of goods or services" My simplistic view is inflation, or loss of purchasing power of your dollar, is rampant if you live in a bubble market and need to pay for services you need to live that haven't been exported. Dollar bubble is due to the record twin deficits that have never been at this level relative to GDP all in the face of still low long term interest rates due to a world awash with too many dollars from our trade deficit. We all know this can't continue. We can't really debate the end game without agreeing on where we are today. In your world of Danville inflation appears very low and the coastal housing bubble sparks a credit contraction and deflation. Perhaps if you took a trip to the big cities you'd see how strong the economy is and how less dependent the real economy is on the coastal housing and consumer credit bubbles. If the stock market doesn't have a real collapse this summer or fall the market will have spoken that the end game is not deflation..

To: mishedlo who wrote (53997)	2/17/2006 2:59:33 PM
From: TimbaBear	Respond to of 110194

Mish Even though there are plenty of definitions out there, anyone that does not accept HIS definition is an idiot (to him). If anyone is guilty of calling people names who don't agree with a viewpoint, I'd have to give the award to you. You denigrate the person, the argument, all of it with some vile words, so I don't think you can be throwing any stones here. He implies inflation is rampant but will not describe his measure or his basket of goods or services. Actually, he has said that non-hedonically adjusted currently used baskets of goods would probably be OK to show how much inflation has changed (at least that is the way I interpret his position). Mish, you claim his definition of inflation runs counter to what you are claiming is mainstream (Austrian school, or some dictionaries), are you so claiming for the way the US Government compiles it? After all the CPI and PPI make no mention of money supply changes in their results. If I were as unkind in characterizing your position as you seem to be in characterizing those who don't buy into your definitions and outlook, I might increduously ask: "What makes you think you are better than the US Government statisticians in understanding what measures inflation?" However, knowing that putting the question in that manner would make me look foolish, I won't. I just wish you could step outside of yourself and see how foolish your name calling and denigrations of others make you seem. There is room enough in the complex issues in life for many sides to be treated as having merit, even those who seem to be diametrically opposed to each other. Your questions posed to GST earlier were designed for a simple yes or no answer to look foolish when given. Sort of along the lines of the questions from our schoolyard days: "Have you finally stopped whacking off?" Yet you continually harp on about him not answering those silly questions with a "yes" or "no". Get over it, it was an obvious ploy that didn't work, let's move on already. You carp and cuss when people don't see your side of the argument or (worse yet) see it and don't give it the strength you assign. Please excuse us if we have a problem with following and adhering to logic we find flawed or lacking in its ability to address other issues we see (like the impacts of a weakening currency in the host country). As we are, you are certainly entitled to your own opinion, but unless I miss my guess, you put your pants on the same way I do and thus your opinion is only that, an opinion. Disagreement with it should be respectful as should your disagreement with opinions expressed by others. I'm sure you could point to posts by GST that were not the epitome of diplomacy and, in that, I would agree. However, we all can only sweep our own side of the street and hope that others take the same pride in the neighborhood. Timba