|
Mish Shedlock returns to update us on his deflation views. In 2002 after the Greenspan-induced dot com bubble collapsed, many worried that the U.S. could suffer a Japanese style deflation. That’s when Ben Bernanke wrote a paper titled “Deflation: Making Sure It Doesn’t Happen Here.” He reasoned that massive amounts of money creation helicoptered over American would avoid deflation. Nine years and trillions of dollars later, factoring in actual inflation, we still have virtually zero real economic growth. Unemployment remains high and interest rates are suggesting future deflation. Has Bernank
|
