Price deflation is the natural outcome of mammoth excess capacity and shrinking demand from aging, indebted consumers. Lower asset values are a key part of the cure needed to fix global imbalances and restore rational investment math and consumption ability once more for the middle class.
But for bankers…this is a nightmare of their own foolish, greedy design. Rate-cutting powers now gone, and future consumption already spent as demand the past few years, the next global recession is advancing to force a much needed cleansing of reckless policies and players. Couldn’t happen to a more deserving bunch of folks…
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