2009-05-23blogspot.com

What will also be noted in the history books is that, during the late-20th and early-21st century, U.S. economists were far too busy patting themselves on the back for having engineered what appeared to be "The Great Moderation" to fully understand the important distinction between domestic inflation (think health care and education) and imported deflation (think clothing and electronics) which, when combined, produced what will be remembered fondly as "benign" inflation.



Comments:

catherine at 03:32 2009-05-24 said:
WHEN YOU DON'T COUNT ON FUEL AND FOOD TO FIND THE INFLATION FIGURES YOU ARE JUST A DAMN LIAR AND THE NUMBERS MEAN ABSOLUTELY NOTHING Permalink

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