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  • More "Deflation"

    http://www.thisismoney.co.uk/news/ar...7&in_page_id=2

    Mike

  • #2
    Re: More "Deflation"

    Stages of evolution in modern central banking:

    1. "High inflation is bad. Our objective is to avoid high inflation".

    2. "High inflation expectations cause high inflation. We need to manage inflation expectations".

    3. "So long as inflation expectations remain low, inflation will remain under control. We need to focus on inflation expectations".

    4. "Never mind high inflation, just keep on telling everybody that inflation will be low.. soon".

    5. "Why won't anybody listen to us???"

    6. "Gee, this gold we have is worth a lot of money!"

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