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Randy H
2012 Aug 3, 7:18am
Huh?
Interest rates doubling would happen because the Fed is attempting to control inflation. Inflation cannot occur unless BOTH prices and salaries rise. In an environment of rising salaries and prices, home prices tend to also rise in tandem with general background inflation.
B.A.C.A.H.
2012 Aug 4, 1:37am
Inflation cannot occur unless BOTH prices and salaries rise
i think so too but a lot of people argue that inflation is only rising prices.
There's one person on patrick.net who will throw a tantrum on the blog to make that point, while backing it up with a list of citations.
Randy H
2012 Aug 4, 2:51am
There's one person on patrick.net who will throw a tantrum on the blog to make that point, while backing it up with a list of citations.
For some, inflation is a religion in and of itself. Shiff and others mislead a great many people over the past 10 years.
Even during stagflation, there are both rising salaries and prices. The main difference we saw during our stagflationary malaise was that wages rose very unevenly and with sudden jolts (a lot of that due to unions and government wages being tied to CPI).
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This is from one of our discussion in 2006. There were topics on Patrick.net and in my own blog (capitalism2.org) which featured the [then new] Case Shiller method and a healthy dose of linear regression.