me: >> When that power goes away, as during a civil conflict or after losing a war, >> the printing presses roll and fiat money loses its scarcity value, so that >> hyperinflation roars.
Sabri Oncu wrote: > In a way, this is what happened over the past decade. Not necessarily > hyperinflation but a very high inflation in asset prices. Now, the > asset prices are deflating as the money is being destroyed. I was using the word "inflation" in its standard way, to refer to the sustained increase in the prices of newly-produced goods and services. Asset price inflation is something different. Even if we conflate the two types of inflation, the rise in prices in the recent housing/asset bubble was hot "hyper." Now asset prices are "deflating." Is that because of a declining money supply? is there a Monetarist in the house? -- Jim Devine / "Nobody told me there'd be days like these / Strange days indeed -- most peculiar, mama." -- JL. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
