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

To: Tommaso who wrote (75605)	12/14/2006 12:20:39 PM
From: bart13	Respond to of 110194

When you say "International," I take it you mean the 2nd edition of the Merriam Webster New International Dictionary which I, like you, prefer to the Third International that began to be published in 1961. But I prefer it because of the wealth of proper terms, such as important geological strata (Coconino, Chinle, etc.) and other words that were omitted from the Third. I don't see that any of this is very relevant to the fact that for most people, in most times and places, "inflation" means a rise in prices. Such a rise can be caused either by an excess of money and credit or by shortages of goods, or both. To object to using the word "inflation" in this way is as sensible as trying to correct the usage of a person who says that he or she has a runny nose by saying, "No, you are suffering from a viral infection specific to the nasal mucous membranes." Furthermore, that might not even be the correct explanation. Its actually the 3rd edition of the Merriam Webster New International Dictionary to which I was referring. "An increase in the volume of money and credit relative to available goods, resulting in a substantial and continuing rise in the general price level." And your point is well taken about the general price related definition of it that's used in normal conversation. I don't disagree with it. What I do disagree with is that its the "final" definition. To me its just a label and not suitable for precise work.