tag:blogger.com,1999:blog-4290163255778893789.post8597812194496922215..comments2024-03-16T05:19:07.061-04:00Comments on Retirement Blues: Of Deficits and Inflation - Part 3Jazzbumpahttp://www.blogger.com/profile/07337490817307473659noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4290163255778893789.post-7957128809088961572011-01-04T12:31:14.810-05:002011-01-04T12:31:14.810-05:00It's hard for me to see any road from here to ...It's hard for me to see any road from here to hyperinflation. Even moderate inflation looks to be pretty iffy at this point.<br /><br /><i>Weimar actually turned monetary policy management over to private banks in the 20s, and that's what caused the problem. When federal authorities took back that control, things got better. Anybody know anything about that?</i><br /><br />Wow. I sure don't. Fascinating idea.<br /><br />Cheers!<br />JzBJazzbumpahttps://www.blogger.com/profile/07337490817307473659noreply@blogger.comtag:blogger.com,1999:blog-4290163255778893789.post-81431816957566145992011-01-04T12:26:07.287-05:002011-01-04T12:26:07.287-05:00I think you're right -- there's just too m...I think you're right -- there's just too much variation and noise in the different slices, dices, and analyses of this data. I find it hard to derive any coherent, intuitively convincing story from it. Most or all that I come up with can be contradicted by a different slice or dice. This suggests to me no correlation, or no correlation that doesn't rely on some other data set for explanation.<br /><br />But this -- totally in keeping with Modern Monetary Theory -- suggests that the sky-is-falling folks worrying about deficits/debt and hyperinflation don't have much of a leg to stand on. <br /><br />On the hyperinflation issue: I read a passing mention in a comment recently saying that Weimar actually turned monetary policy management over to private banks in the 20s, and that's what caused the problem. When federal authorities took back that control, things got better. Anybody know anything about that?Steve Rothhttp://asymptosis.comnoreply@blogger.com