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To: Bobby Yellin who wrote (6612)	1/23/1998 5:24:00 PM
From: Mike M2	Read Replies (1) \| Respond to of 116762

Bobby, the coleman article is good. The confusion about the term inflation is because many economists only recogize inflation when it manifests itself in the ppi & cpi. Economists of the Austrian school define inflation as an increase in money and credit beyond the needs of economic activity. The monetary inflation is in the financial markets. Go back on this thread to post 5621 there is a link to Al Freidberg for Austrian economic perspectives. I found a book in a library titled "Tiger by the Tail" -the legacy of Keynesian inflation by F A Hayek . For a short description of Austrian economics read Ch 10-11 of "Trader Vic Methods of a Wall ST Master" by Vic Sperandeo. Mike

To: Bobby Yellin who wrote (6612)	1/23/1998 6:20:00 PM
From: IngotWeTrust	Read Replies (2) \| Respond to of 116762

Bobby, we EXPORT everything...you name it...lipstick to diseases. Inflation is just part of the long litany. I've been calling the excessive printing of currency "inflation"; so have many others. We are furthermore verrrrrrry busy "hiding" just how much we ARE printing by the "coincidental?NOT!!!" replacement of our green pix of dead presidents. Working on sawbucks as we speak as if memory serves. Someone asked on this thread not so long ago HOW so many of our dollars got so widely dispersed around the world in such humongous quantities...and no one answered. I found that curious and frankly, bordering on appalling. Simply put: the reason is: we've been t'biggest importer since O'Leary's cow and the Chicago Fire...And we've paid in OUR currency. Of course, the rest of the world has enough greenbacks to start fires of their own... The Indo's and the Thailands and the Philipines etc., haven't had much to sell us, thus their "greenback supply" is down... And Korea accepted promises from us when we built our mfg capacity/i.e., shipped jobs over there and twinly insisted on paying them in their OWN WON...pretty slick, eh? The EURO is going to have to hustle... how many things can you think of off the top of your head besides Irish Potatoes, Swiss Chocolate, German Cars, Italian Papal Trinkets, and Finish? Vadimecum Toothpaste can you think of that we really need from Europe in the import category? If the EURO will fails, and BTW, I think it will and have said so previously ---but not until after it is launched and probably not until 2003 to 2005--- it won't be b/c there wasn't enough gold to back their currency!!! It will be b/c there isn't enough export demand for anything that they have to sell to the rest of the world. We are entering a tremendous firesale prices era from ASIA...and the European Export market wants to compete w/cars, chocolate, and potatoes...If you had to chose between potatoes and an nifty electronic doodad that'll improve your handheld Quotrek for example, ...which are you going to purchase? Ditto chocolates, Mercedes, papal trinkets and all the rest of the bs from Europe... Enough for now... Have a good weekend