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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (49982)	4/23/2006 10:03:50 PM
From: mishedlo	Read Replies (4) \| Respond to of 116555

Mish; Let me turn it around. If it is money supply which is responsible for inflation, why haven't we as yet had an explosion of inflation? We HAVE seen an explosion of inflation. Housing is in a bubble state in many many places worldwide. We have also seen it in stock market prices. Greenspan is a moron. The FED does not look at asset prices and ignored stock market mania in the late 90's because prices were contained. Money growth was extraordinary. In the wake of the nascrash the FED again pumped money supply. I am a firm believer that housing is the bubble of last resort (insofar as there is any economic benefit). If Gold goes to 3000 it will not do the FED or anyone else any bit of good. Economic checkmate is coming. Mish