[lbo-talk] Re: deflationary spiral

Ian Murray seamus2001 at attbi.com
Sat May 24 09:14:37 PDT 2003


----- Original Message ----- From: "Yoshie Furuhashi" <furuhashi.1 at osu.edu>


> >At 07:53 PM 05/23/2003 -0700, Yoshie wrote:
> >>Economic conditions -- possibly on the brink of a bad deflationary
> >>spiral -- cry out for politics other than Republican tax cuts for the
> >>rich and Democratic fiscal prudence. The Green Party probably isn't
> >>capable of running a campaign to mobilize the potential constituency
> >>nationwide, though.
> >
> >I am skeptical about this so called deflationary spiral. Sure looks
> >like "deflation" is the newfound economic WMD. Sure looks like they
> >just want to print money so that they can do whatever they damn well
> >please....regardless of the consequences, which look to me more like
> >inflation and currency collapse than like deflation...in which case
> >I'm up shit creek, being a saver and not owning a house.
> >
> >Joanna
>
> For a short term:
>
> ***** News analysis: Bush letting dollar do the talking now
> Eric Pfanner/IHT IHT
> Thursday, May 22, 2003
>
> ...In a report released over the weekend, the IMF warned that a sharp
> fall in the dollar could export deflation to other regions, a problem
> that might, eventually, boomerang on the United States.

===========================

Here's the IMF report, happy decoding:

http://www.imf.org/external/pubs/ft/def/2003/eng/043003.htm



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