Deflation
From the NYT: Krugman on Deflation
Krugman observes that the 3-month rate of change in wages has dropped off precipitously. "Bear in mind that inflation usually runs below the rate of wage change, thanks to productivity growth. So we’re really heading into Japanese-style deflation territory."
See Bureau of Labor Statistics Employment Situation Summary 7-2-09
Krugman observes that the 3-month rate of change in wages has dropped off precipitously. "Bear in mind that inflation usually runs below the rate of wage change, thanks to productivity growth. So we’re really heading into Japanese-style deflation territory."
See Bureau of Labor Statistics Employment Situation Summary 7-2-09
posted by ENSO Advisors at
10:48 AM
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