| Subject: | Re: [socialcredit] Definition of inflation | | Date: | Monday, February 13, 2006 10:18:34 (-0800) | | From: | Jeffery Smith <jjs @.........org>
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| In reply to: | Message 3394 (written by John G Rawson) |
On Feb 12, 2006, at 9:04 PM, John G Rawson wrote:
> Then where does the accepted "cost push inflation" fit in?
Into our modern mythology, economics being the last great bastion of
superstition.
> And I repeat, it is measured as price rises, with no relation to money
> supply.
_All_ prices? If money supply and velocity don't change, then mustn't
some other prices fall?
> Perhaps the dictionary is being a little impractical in this case?
Conformity to prevailing convention is nearly always practical, isn't
it, even when conventional wisdom is wrong?
As foreign demand for US dollars falls, watch US inflation continue to
rise, as those dollars come home to roost.
SMITH, Jeffery J., President, Forum on Geonomics
3604 SE Morrison St, Portland Oregon 97214 USA
503/234-0809; jjs@geonomics.org; www.geonomics.org
Share Earth's worth to prosper and conserve.
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