Mish Shedlock is presenting an excellent little study on inflation and deflation. Mish is unique, or at least seminal, in noting that "credit" falling within the definition of money is destroying everyone's prescriptive and predictives models. Mish is within the Austrian school, but there are those, wrong, who disagree with him, or at least fail to comprehend his point. This will help people understand.
Maldefinition of money is creating a pretense in which people work at nothing productive and are promised that which cannot be delivered, to the extremely evil end where are all denied the good of what would be other's contributions, absent this pretense.
Feel free to forward this by email to three of your friends.
Maldefinition of money is creating a pretense in which people work at nothing productive and are promised that which cannot be delivered, to the extremely evil end where are all denied the good of what would be other's contributions, absent this pretense.
But such a definition, such a perniciously malicious polity cannot be credited. But I think it is exactly what is in play.
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