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Things can only get ...
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...biscuitier is my guess.
Actually I was going to post this in my racistly entitled Deflation Eurozone edition. Apparently if you strip out tax, Eurozone inflation is now 0.4%. Graham Devon (and others) might be about to see at close quarters the impact of deflation and whether it's a good or a bad thing.
I think this could be bad deflation (if it happens) but time will tell.
Eurozone M1 actually expanded at a higher than expected rate in the last quarter. I would post a link but I can't be bothered to find one. A crumb of comfort, but only a minor one.'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
Eurozone M1 actually expanded at a higher than expected rate in the last quarter. I would post a link but I can't be bothered to find one. A crumb of comfort, but only a minor one.
I'm sure it did.
M3 was flat and as the credit creation part of the money supply is the bit that has gone horribly wrong I think that broad money is where it's at right now.
Interesting that narrow money is increasing but broad money isn't. More of a cash/black economy emerging perhaps?0 -
I can report that the M5 is a pain in the arris.
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I would guess that Cash is king in many parts of Eurolalaland currently'In nature, there are neither rewards nor punishments - there are Consequences.'0
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I thought the first law was to waffle, and if that doesn't work, waffle some more
At least that was all I remember of the lectures :eek:'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
I thought the first law was to waffle, and if that doesn't work, waffle some more
At least that was all I remember of the lectures :eek:
Interesting. My memory was an overwhelming urge to sleep.
For those that are unaware, this is called Gresham's Law. The idea is that if you have bad money and good money, people will spend the bad money and save in the good money. In the end, all the good money ends up in people's savings and the Bad money get spent faster and faster.0 -
Interesting. My memory was an overwhelming urge to sleep.
For those that are unaware, this is called Gresham's Law. The idea is that if you have bad money and good money, people will spend the bad money and save in the good money. In the end, all the good money ends up in people's savings and the Bad money get spent faster and faster.
The best way to destroy the capitalist system is to debauch the currency - Lenin"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »The best way to destroy the capitalist system is to debauch the currency - Lenin
Nice quote - but it would appear it probably originated with Keynes:
http://marxmail.org/debauch.pdf0
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