Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Crimson Ghost who wrote (102412)	9/24/2009 12:39:38 AM
From: studdog	6 Recommendations Read Replies (1) of 116555

Reply to Gary North: Having a perma-deflationist throwing in the towel seems like a sign that deflation is a real threat now. Apparently Dr. Weiss was wrong for 27 years and now that he has thrown in the towel doesn't mean he is now right. North states:" I have argued that the central bank will not allow large banks to fail. This means that it will not allow the fractional reserve process to implode through bank failures and the contraction of the money supply. So far, I have been correct." He is describing what happened in Japan which is our best modern day example of deflation. I am confused as anybody about what will happen but this article sounds more like an argument for deflation, not inflation. The author is a proponent of the latter but makes a pretty lame case for it. SD

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