August 07, 2009

The speed of a deflation does matter

Sir again you hold that deflation is dangerous, August 7, and that doing too little is a greater danger than doing too much. From the perspective of a baby-boomer that certainly seems to be correct... “Après nous le deluge”, but let me also remind you that although a slow deflation is surely hell a fast one might be bliss, since when touching bottom there is only one way to go.