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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (16135)	11/17/2004 11:26:30 PM
From: mishedlo	Read Replies (2) \| Respond to 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