Ed Huntress wrote:


?Price inflation was high in the 80's.
?Much higher than most of the 50's and 60's when
?prices increased by about 1% or less per year.

"High," compared to what?

You don't read. I stated compared to what.


?
?But ordinary inflation wasn't the issue being discussed.
?The question was "is deflation more likely than hyper-inflation"

That was not Ron Paul's "question."

That's right. You dragged in a red herring. That seems to
be your only skill.



?
?The Austrians correctly view inflation as a product of the
?money supply created almost entirely by private sector borrowing.

They ignored money velocity. That's why we can have money supply
growth in an economic downturn, and the predicted inflation just
doesn't happen.


Money Velocity is the ratio of a measure of quantity of
money to a measure of quantity production. And that is certainly
not something Austrians ignore.


See "Beck, Glenn, economics, stupid."

Beck is another of your red herrings



Which Austrian economist are you talking about?

I posted a link.

Here is another one.

http://www.creditwritedowns.com/2012...sh-either.html