We stopped “debating” the inflationists a while back simply because their arguments had become too bloody stupid to endure. Obviously, they have not been playing with a full deck, since they continue to obsess over the absolutely useless textbook definition of deflation – ”a decrease in the money supply.” Rather than have you become confused by all the drivel and ignorant blather concerning the money supply, which virtually no one understands, we would rather that you see deflation for what it is: an increase in the real burden of debt.
One of my ablest comrades-in-arms has been Mish Shedlock, a deflationist with more patience than I when it comes to dealing with the factually challenged. In his latest commentary, Mish mostly agrees with some points concerning deflation made by David Rosenberg, an economist who has earned our respect. Click here to access the article.
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