MainLine Peace Action/DelMont PDA

August 1, 2010

“Prosperity Is Right Around The Corner”

Filed under: Uncategorized — Tags: , , , , — Walter Ebmeyer @ 10:20 am

That’s what Herbert Hoover told the nation eighty years ago, and the Depression got deeper and deeper.  The government worried about deficits and cut spending until deflation set in and the rest, as they say is history.  Now Obama tells us that things are looking up and we should start trimming spending and worrying about deficits.  But several Federal Reserve worthies are talking deflation.  Now that would be a disaster.

http://www.thenation.com/article/38063/deflation-not-deficit-real-threat