In the last few months, we have seen the prices of commodities dropping precipitously. Oil dropped from $150 to $60, Gold dropped from $1,000 an ounce to $750, Copper fell from about $8,900 a metric ton to $3,800, and so on. The mass deleveraging occurring in our economy at the moment is unquestionably deflationary. So it is no wonder everyone is talking about deflation.
Some think deflation is nothing to worry about. Most people like lower prices. But deflation can...
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