Friday, September 30, 2011

Inflation? Deflation? or Both?

Mish makes the argument--quite well--that we are seeing deflation.  That's certainly the case in home prices, along with gross credit numbers, and a few other indices.

On the other hand, we've also seen inflation in food prices and (still) in fuel pricing.

So.  The propertied class sees a decrease in net worth, while the lower-and lower-middle classes see an erosion in food- and fuel-purchase ability.

What a deal!!

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