The fear of deflation is sweeping across the globe. By ‘globe’ I really mean the clique of elite policy makers, bankers and the economists they employ. The rest of us mere mortals are positively chuffed about deflation – whoever said “no” to lower prices? So why are policy makers and economists so scared of deflation? […]
Calls for a scrapping of the debt ceiling are being heard afresh, but the debt ceiling is a crucial reminder of the reckless spending of the ruling class.