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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 (56136)	3/17/2006 7:35:10 PM
From: Mike Johnston	Respond to of 110194

Mish, that guy pins inflation at 8%, exactly what i have been saying for many months. That is consistent with M3 advancing 8%. And retail sales last year advanced by ... you guessed it, 8%. Is JQP so flush that he bought 8% more stuff ? The answer is he bought the same but paid 8% more. weedenco.com

To: mishedlo who wrote (56136)	3/17/2006 7:46:36 PM
From: Mike Johnston	Respond to of 110194

Although we don't agree on the rate of inflation, i think we agree on this: If "Greenspan put" really exists then the outcome will be hyperinflation. If it doesn't, or they decide to withdraw it, the outcome will be deflationary depression. ( Zugzwang ) Government policy designed to protect asset values from falling, if pursued to the end, must result in hyperinflation.