The Cause and Evidence of Inflation

February 04, 2011   |   February 2011 Bond Updates
On the Kudlow program dated Tuesday February 1st, Donald Luskin gave his version of the textbook definition of inflation as ?an overall rise in the overall price level.? But my 1988 edition of the Webster?s Dictionary puts it differently. Their definition of inflation is, ?An increase in the volume of money and credit relative to available goods resulting in a substantial and continuing rise in the general price level.?

View more at: http://blogs.forbes.com/michaelpento/2011/02/04/the-cause-and-evidence-of-inflation/
 
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