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To: Michael who wrote (7763)	2/22/1998 1:07:00 AM
From: PaulM	Respond to of 116764

Michael, your right, technological advances counter money supply increases. But in general things get more expensive over time. Perhaps someone can post a crb chart from the 70's on to verify. Note that I pulled 1979 out of a hat. Was really talking about a general longerterm trend. Some commodity prices do jump around alot so wouldn't be surprised if some peaked in the late 70's when everyone expected double digit inflation forever. I don't think we have any disagreement. I was just posting what can be said in favor of THOUGHTS, but believe the theory is not likely true.