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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: TobagoJack who wrote (16135)11/17/2004 11:26:30 PM
From: mishedlo  Read Replies (2) of 116555
 
Can someone tell me what is so dreadful about deflation?
OK I understand the initial busting of the credit where debt is wiped out is a very painful process, but after that, who cares?

Prices are falling, Japan has GDP growth of 2.5% or so, debts are wiped out, seems like a pretty good deal actually (other than the initial destruction of credit). Job situation is Japan is no worse than here and certainly better than in Europe. Banks aren't making a lot of money but so what?

Mish
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