o Away

[Rod Speed]

You never could bullshit your way out of a wet paper bag.

[JNugent]

You are almost as persuasive as Farmer Giles over on ukpm.

Only almost, mind.

[Rod Speed]

You never could bullshit your way out of a wet paper bag.

[The Natural Philosopher]

I was simply giving an EXAMPLE, If *fuel cost* goes up the tractor costs more, the fertiliser, costs more, the milling costs more, the baking costs more, and the transport costs more.

Massive inflation while the money supply *has not increased*.

[The Natural Philosopher]

You could as easily believe in Hayek as Friedman. Maggie did. Only time I really got richer.

[JNugent]

Price changes are not of themselves either inflation or deflation. Many prices regularly increase (or decrease) seasonally. As a good example, when UK travel agents increase the prices of family holidays in late July (and they do), that is not inflation. Similarly, when the price drops after the forst full week in September, that is not deflation either.

Inflation is a generalised reduction in value of a given amount of money (with deflation obviously being the opposite way round).

[JNugent]

He got the Nobel for nothing, then?

[Rod Speed]

Just like Obama and Arafat

[alan_m]

If you put half a dozen leading professors in economics in the same room would they agree with each other on this economic for a country, or the world?

[alan_m]

If you put half a dozen leading professors in economics in the same room would they agree with each other on the way to run the economy for a country, or the world?

[The Natural Philosopher]

No.

[Rod Speed]

alan_m [e-mail]> wrote

Nope. Not even with the Nobel winners either.