Comment Re:Inflation (Score 1) 696
Ok. I am not going to start refuting the details as this is not the forum for that. Let me just summarize what you are saying: Austrian economics predicts that inflation will rise eventually.
You see, this is not a testable prediction. It can be said for _anything_ that will happen eventually and that would be almost certainly correct. The question is what would happen now and in the next few years at most.
In the case of inflation Austrians started predicting that inflation would rise substantially about 2 years ago and many people made big noises about it 1 year ago saying that it would happen imminently. Result? The inflation is now _lower_ than it was back then.
This is sufficiently long time to test the validity of the predictions. Again, only the liquidity trap theory predicted _exactly_ that. The current budget impasse will likely muddle the waters and the effects are hard to predict in detail, but the situation will probably not change significantly soon in terms of inflation.