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Financial Primers
Why Deflation?
Posted by Larry Doyle on December 30th, 2009 10:03 AM |
My better half asked me today why I thought deflation was likely to be a major problem for us over the next decade. I shared my views on excessive debt, challenging job prospects, excess capacity, and the like. All that said, I’m a former Wall Street trader and not a Secretary of Labor. What does somebody who filled that slot think? Let’s listen to Robert Reich, who headed the Department of Labor during the Clinton administration.
Reich provides a substantive review on the vastly diverging developments on Wall Street and Main Street in a recent commentary posted at Wall Street Pit. While asset valuations have rebounded across a wide segment of the markets, the fact is the fundamentals within our economy are clearly deflationary. Reich highlights as much in writing: (more…)
Tags: declining purchasing power, deflation or inflation, economic outlook for 2010, economic prospects for labor housing manufacturing, inflation or deflation in 2010 and beyond, outlook for economy 2010, purchasing power, Robert reich, Robert reich commentary on Wall Street vs Main Street
Posted in deflation, General | No Comments »