Aug

19

 It used to be that employment was a direct function of output /price. What is this mumbo and desire of the Fed to get inflation over 2% a year. Low prices are good. On a recent visit to Japan, the prices there were much lower than the US because there had been no inflation there in 10 years. That made us want to purchase things.

Anatoly Veltman writes: 

Interesting to note that in centralized economies the cause and effect are different. When I went to Russia with lectures in 1995, they couldn't comprehend that bad economy does NOT bring forth inflation. In their past, bad economy would bring official price hikes, as government deficit spending would immediately levy all goods and services.


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