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Let's cover some of the comments:
The price of investment is not considered part of inflation. Therefore
stock prices, or house prices, for that matter, are not looked at.
Whether we have inflation or not is a function of supply and demand. If
oil prices are going up because of a short term restriction of supply,
it is not something AG should be responding to. If they are going up
because of an increase in demand, he should respond. Which is it?
I find it funny that the element of inflation considered most important
is the one that no one has mentioned yet - - labor. If wages were rising
rapidly, AG would be pulling that punchbowl away so fast he'd spill half
of it.
Anyone know what the 3 year average increase in prices has been
(including food and energy - - I agree that the cherry picking is silly,
it just gives reporters something else to write about)?
Regards
DanG
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