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Non-Tech : Deflation

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To: JF Quinnelly who wrote (286)6/13/2005 4:10:52 PM
From: Maurice Winn  Read Replies (1) of 621
 
jfred, 25 years ago, we had a children's book about a hedgehog. In the book, of course the hedgehog is the central character, so takes up the usual proportion of a page. It wasn't a scary book, but I don't recall the details.

Our [about] 4 year old son and I were driving to Auckland and I spotted a hedgehog on the side of the road, so stopped to show him.

He was quite excited that there was a hedgehog, this mythical beast of the book. But when he saw it, he asked "Is THAT a hedgehog?" He had expected something akin to the picture in the book, not a snuffling little fellow, which was obviously not only harmless, but should be scuttling back into the undergrowth.

I am waiting with bated breath to see the scary monster DEFLATION

Will it be more like a tyrannosaur rex or mouse?

Remember the dreaded WMDs? People tend to build things up in their minds when a scary thing is looming.

Waiting for a damp squib,
Mqurice

PS: In NZ$ terms, there has already been a huge deflation in US housing prices, but nobody noticed. You can't sell your house there, swap to NZ$, buy a couple of houses here in a better area with a sea view and retire. There's more than one way to experience deflation. Sometimes one doesn't even notice, or even thinks they are experiencing inflation. That's the weird thing about the financial relativity theory when travelling near the speed of light.
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