Its been pointed out to me that deflation causes incomes to fall and also that debt, in real terms, rises as a consequence. These two factors would combine to retard business investment and therefore economic growth. Is this true?
Bump. Kaz, you may have missed my post above. I would be very interested to hear what kinds of price deflation (according to Salerno's taxonomy) you consider to be BAD and why you disagree with Salerno. Thanks.
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Kaz, I'd also like you to respond to my last post.
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