I wrote:>>what's kept inflation low in the US has been low oil prices,
low raw material prices in general, and the high dollar.<<
Eric says: >The first two certainly have help lots. But I'm no convinced
about the "high dollar." After all if the dollar is "high" then other
currencies are "low." <
ply, through the regulation of
derivatives and debt markets. Which will never happen.
Christian
- Original Message -
From: Michael Perelman <[EMAIL PROTECTED]>
To: <[EMAIL PROTECTED]>
Sent: Monday, February 18, 2002 8:09 PM
Subject: [PEN-L:22985] Re: RE: Re: on the dollar, d
> what's kept inflation low in the US has been low oil prices, low raw
> material prices in general, and the high dollar.
> JDevine
>
And the excess capacity in manufacturing world wide that has
increased competition and prevented the excercize of monopoly
pricing.
right.
Jim D.
>
> what's kept inflation low in the US has been low oil prices, low raw
> material prices in general, and the high dollar.
> JDevine
>
And the excess capacity in manufacturing world wide that has
increased competition and prevented the excercize of monopoly
pricing. No?
Paul Phillips,
E
I think that the massive power of speculators can overwhelm central bankers. I
recall that Doug H. was skeptical of this view.
"Devine, James" wrote:
> Michael Perelman writes:
> >Doesn't this mean that the central banks have much less power? <
>
> yes, since the CB controls money but not credi
this author writes:
>> The avalanche of non-bank credit that has swept across the economic
landscape over the past 20 years has altered it beyond recognition. On the
one hand, it has enabled the monetary aggregates to grow much more slowly
than the credit aggregates, helping to keep inflation low
