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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: GST who wrote (91052)	2/2/2008 9:28:25 PM
From: glenn_a	Read Replies (1) of 110194

GST ((Your balance sheet is imploding and your cost of goods is soaring -- that is not deflation. An imploding balance sheet is not deflation -- it is the sound of your net worth going up in smoke. Housing is imploding. The dollar is imploding. The cost of goods is soaring. None of this is deflation)). I agree with all the above except that an imploding balance sheet is not deflation. No, it's not deflation per se, but it does have a deflationary impact, no? It's the whole "wealth effect" thing. It should lead to households curtailing their expenditures, which all else being equal, will have a deflationary impact. g

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