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Robert Samuelson in WaPo on the deflation danger...We need crisis managers, not actors playing government officials...
The Great Depression provides evidence of deflation’s damaging effects. Agricultural prices collapsed, making it harder for farmers to pay their debts. Mortgages went into default by the thousands.
Prices fell more than wages, raising labor costs and frustrating firms’ efforts to resume production. Idle workers and idle machines pushed prices down, delaying the recovery. We cannot let it happen again.
https://www.washingtonpost.com/opinions/here-comes-the-great-deflation-threat/2020/04/05/27ca18ce-75fc-11ea-87da-77a8136c1a6d_story.html?utm_campaign=wp_opinions&utm_medium=email&utm_source=newsletter&wpisrc=nl_opinions