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When did the lunatics take over the asylum?
For as long as I can remember, I've been hearing about the evils of financial inflation.
Inflation bad. Rapid inflation worse. Inflation around 25% the work of the devil. Therefore, you'd think, zero inflation, or deflation (falling prices) must be good? Right? A no-brainer?
Nope. The biggest evil confronting the developed world today is, apparently, the threat of inflation dropping to zero, or turning negative. Negative inflation, say minus 1%, will knock the earth off its axis and must be prevented from happening.
Remind me, please, just when did the lunatics take over the asylum?
Posted at 10:25 AM in News & Comment | Permalink