The Doctrine of Inevitability

MScoleman at MScoleman at
Wed Sep 2 14:40:30 PDT 1998

In a message dated 98-09-01 12:49:01 EDT, you write:

<< Rakesh Bhandari wrote:

>Oh, on the question at hand, does deflation only benefit bond holders?

>Can't it aid the centralization process as well--driving weaker capitals

>to the wall, allowing better positioned ones to pick them up for a song?


I think deflation would also help those locked into wage contracts and fixed incomes. Since real income is a function of money income divided by costs, if costs go down, real incomes will increase.....and they are about to pension me off, yeah!

maggie coleman mscoleman at

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