Pick your poison, social unrest, or...

[Ricter]

ricter if you have ever answered that question let me know.

If someone tells me Godzilla is flattening cities, I don't start by looking into evolution, cryogenics, nuclear thawing, etc. : ) First, I look to confirm that some cities have been destroyed by a big monster. If no cities destroyed by a big monster, I don't worry about Godzilla.

Edit: pardon the analogy, I was listening to some Blue Oyster Cult the other day.

 

[jem]

what has that got to do with whether inflation has been caused by deficit spending vs the expansion of the money supply independent of govt spending?

we know we have had 700 percent inflation in the last 50 years... and the middle class has been crushed. so the question is whether it was Godzilla or the Fed or something else.

 

[Ricter]

we know we have had 700 percent inflation in the last 50 years... and the middle class has been crushed.

jem, we must have had 700% wage growth, too, because people on this board have been saying that the poor have never been so well off as they are right now, the middle class richer yet, and of course the 1% have reached unprecedented heights. Our poor are fat, have cellphones, and watch big screen TVs.

 

[Arnie]

Its not due to wage growth. Its due to debt

 

[jem]

interesting point if you were arguing inflation does not hurt people. An argument which would seemingly support the idea that no income tax is needed.

Of course my point is that inflation has destroyed the value of middle class wages and to some degree their assets and even their asset vs mortgage size well being.

jem, we must have had 700% wage growth, too, because people on this board have been saying that the poor have never been so well off as they are right now, the middle class richer yet, and of course the 1% have reached unprecedented heights. Our poor are fat, have cellphones, and watch big screen TVs.