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

To: TimbaBear who wrote (75697)	12/15/2006 10:43:59 AM
From: mishedlo	Read Replies (2) \| Respond to of 110194

I don't think anyone is arguing that inflation is divorced from monetary policy, just some of believe that sometimes other factors come into play which may even override the monetary in impact. If by inflation you mean prices, I have said the same thing MANY times, and so has Kasriel and in fact everyone quoted would probably agree as well. How many times do I have to say that that [price] inflation was masked in the 90's because of productivity changes, disruptive technologies like the internet, globalazition, global wage arbitrage, and finally because monetary policy fueled a stock market instead of prices. That is EXACTLY why putting prices ahead of monetary policy is like putting the cart before the horse. Inflation was rampant but it was masked by other factors. Mish