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We are in a deflatory spiral, but inflation will happen eventual
(2008-10-31 13:02:34)
OnionMomquotedthis:
Moneysupply*Velocity=Price*Quantityofgoodsandservicesold.
Inacrudeapproximation,Let\'ssayP*QisproportionaltoGDP(excludingimports/exports).Let\'salsoassumethatvelocityhassloweddown.IfMoneySupplystaysthesame,P*Qgoesdownandweenterintorecession.
Sodoesthemoneysupplystaysthesame?Well,no.FiscalpolicyandmonetarypolicyintheUSareverydifferent.TheFEDisincontrolofthemonetarypo...[阅读全文]
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