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To: GST who wrote (15824)	10/26/2008 5:30:40 PM
From: Don Earl	1 Recommendation Respond to of 29622

RE: "the US has not seen deflation in my lifetime or yours and it is most unlikely you or I will ever see it" "Inflation" means things get bigger. "Deflation" means things get smaller. Both words are sorely abused, but try a simple definition based on the average standard of living for the average person. Recessions/depressions are periods where the average standard of living for the average person deflates. The value of their assets decreases and the purchasing power of their labor becomes smaller. You can say more is worth less, or less costs more, but it's still the same thing - everything gets smaller.