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It's funny how one does not separate different kinds of inflation from each other (in central bank practice). It's quite absurd to me that the central bank should increase rates to combat inflation which is caused by dearer imports (caused by an oil shock, for example). It's not like it's going to help, is it? Especially not if you're not looking at core inflation, but rather at the CPI!

The reverse should be true as well: don't cut rates and blow bubbles just because you're importing disinflation from China.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Sat Feb 18th, 2012 at 02:32:00 PM EST
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