Max Sawicky sawicky at
Thu Sep 17 08:47:39 PDT 1998

> >Somebody mentioned that bond holders might benefit from deflation.
> >But if corporations are collapsing due to deflation, wouldn't many
> >bonds become worthless?
> Not government bonds. . . .

In addition, bondholders have prior claim to a business firm's assets if it goes bankrupt. Shareholders are last in line.


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