tag:blogger.com,1999:blog-2001146793389907383.post6753399849777660159..comments2023-03-14T04:18:32.571-04:00Comments on Eric Reasons: What We Need Is a Diversion...Eric Reasonshttp://www.blogger.com/profile/05688830134012824642noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2001146793389907383.post-57259100117442099802009-03-20T07:25:00.000-04:002009-03-20T07:25:00.000-04:00My friend Dani writes me on this:"Seriously. I am ...My friend Dani writes me on this:<BR/><BR/>"Seriously. I am way more freaked out about mega-inflation than executives getting mega-bonuses, because this is nearly guaranteed to affect me personally.<BR/><BR/>I generally subscribe to the quantity theory of money (i.e. inflation = bad news), and banking that this is going to be a cost-push maneuver (where the money supply endogenously expands to accommodate the rising costs) seems to be a very dangerous gamble when things are already such a mess."Eric Reasonshttps://www.blogger.com/profile/05688830134012824642noreply@blogger.comtag:blogger.com,1999:blog-2001146793389907383.post-47899048826082265682009-03-20T05:53:00.000-04:002009-03-20T05:53:00.000-04:00this may sound a bit controversial, but i will wel...this may sound a bit controversial, but i will welcome inflation with open arms. It will mean two things, one we will be in the eye of this storm and the system is correcting itself. Second it will mean that my house and car payments as a percentage of my income will dramatically drop over the long term. I do not think we will see inflation though. We are in something far more ominous. In order for there to be inflation we would need to see oil prices go up exponentially. Every time we have had inflation since the beginning of the industrial revolution has been preceded by large spikes in the price of oil. They tried that and it didn't work. The only thing that can fix the situation we are in right now is a massive ground war. Believe it or not we are preparing for one. The State of Michigan is actively converting auto suppliers into military and aerospace manufacturers. Google "DC3 General Bradley Lott" and have a great weekend.Jeff Sandhttps://www.blogger.com/profile/00803429620413445224noreply@blogger.com