overtaxed42long

The Two Gaping Holes in the Inflationist Argument

Good article. I thought a couple sentences in my eyes were going to glaze over and I would hit the desk with my head. But that quickly gave way to an approach that I thought was very well laid out without leaving a bunch of unanswered questions one might have. The one I have is about M. When all the values of most equities fell by say 50%, does that lost 50% ever get calculated in as part of the lost money and therefore would be effectively cancelling out even more inflation the Fed is busy putting in circulation? Or was that value basically a "fair price estimate" and therefore not included when or if markets increase or decrease.