Thanks very much for your comment on the piece titled "Taking a Look at the Fed's Latest Round of Quantitative Easing." Sorry for the delay in my response.
You raise a very interesting point, and by your logic I would agree that normal metrics for measuring various components of what was our traditional economic infrastructure may no longer allow us to extrapolate reliable conclusions given the unconventional developments currently present in the broader marketplace. Considering the LDP victory in Japan and the seemingly imminent "unlimited easing" as espoused by Shinzo Abe it seems that it is not just the US economy, but the global economy that will ultimately find itself subjected to abnormal circumstances for which the "digestion" framework is ill-equipped to process. Taking for granted this dynamic, and your statements regarding consumers' resistance to abnormal price changes, it seems likely that we can eventually expect a tiered economic cycle with deflation preeminent in the products/services with relatively elastic demand while consumer staples like food, energy, etc. experience fairly dramatic price rises. This of course assumes that suppliers will eventually raise prices once they realize rising input costs are not a transient anomaly and that consumers resist rising prices on those nonessential goods/services.
Or do you perhaps expect to see deflation across-the-board until the full scope of monetary dilution has been effectively "digested" at which point we experience a 180 degree turn from deflation to inflation?
Morry, is it possible.....possible....for a state to get on a precious metal standard and still conduct business with all the rest of the states who are not? I believe some time ago, that Utah tried that, but not sure if it was only asymbolic gesture or the real deal. You may contact me, if you prefer, at email@example.com.
Go to The Constitution Study Group. At the top of the page of the left side is "The Discussion Forum". 4 or 5 discussions are listed. At the bottom right of that list it says "View all". Click on that, and you will see that there are only 49 (or 59) discussions listed. And yes! Those do all pertain to the Constitution.
Welcome, Morris, to the Constitution Study Group! To get started, please read, The Rules posted at the top of the page and then, "1. FOR NEW MEMBERS & OTHERS", in the Discussion Forum on our Page. [Click on "view all" to see all the Discussions]. Best way to get started is to start reading the Discussions. Some are numbered, read those in order. Then read the others as you have time. There is also good stuff on the "Wall" as you get time! Glad to have you in the class!
The Old Year has gone. Let the dead past bury its own dead. The New Year has taken possession of the clock of time. All hail the duties and possibilities of the coming twelve months! ~Edward Payson Powell