August 16, 2009

WHICH IS WHY BERNANKE CAN'T BE FIRED EVEN THOUGH HE CAUSED THE RECESSION:

Europe and US still at risk from deflation trap (Edmund Conway, 14 Aug 2009, Daily Telegraph)

The developed world has not shaken off the risk of sliding into a deflation trap, experts warned after new figures showed that prices in both the eurozone and the US are falling. [...]

Indeed, the fall in consumer prices over the past year in the US represents the biggest such drop since January 1950, and means that the country has now been in deflation for eight months.

Posted by Orrin Judd at August 16, 2009 7:26 AM
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