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Old 08-16-2010, 03:30 AM
 
Location: Tower of Heaven
4,023 posts, read 6,267,346 times
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Authorities in Japan back in the '90s, and in the U.S. now, don't understand that recessions are necessary.

No Japan-Style Deflation In The U.S. - Forbes.com

US/Japan comparisons are just ridiculous
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Old 08-16-2010, 06:38 AM
 
22,770 posts, read 25,202,065 times
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Quote:
The above history and statistics are notable considering the unyielding desire of some within the economic commentariat to attach "deflation" to our present economic problems. The problem for them is that deflation is a monetary phenomenon that occurs amid powerful currency strength against gold. That the dollar has collapsed against gold this decade reveals either a misunderstanding of the phenomenon within the deflation cult, or a dishonest desire to redefine the word altogether.
he's saying that there is only one way to measure deflation, and that is through a currency's relationship against gold.

so if you think the labor market, or the consumer, or the demand for credit might be indicative of deflation... then you're in a cult, or you're a liar.

the rest of his article seems pretty good, though.
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