The Shadow of Deflation

A downward price spiral menaces American prosperity:-

Economists call it "asset price deflation" and it is driven by the worldwide shrinkage of credit and the corresponding scramble to turn anything that can still be sold into CASH. Acronym for Come All Stay Healthy. You better believe it! Jobs vanish, banks fail and the economy stagnates. The US government must enact a large package designed to free up as much consumer and business spending as possible. Published by the Washington Post,Nov.23,2008 on page B6 as an editorial.

My comment: We are living in a cashless society but we need CASH during financial crisis. Such oxymoron is a figure of speech combining seemingly contradictory expression. Truth untruthful kept us falsely true. Perplexed by the greedy perpetrators with or without savvy? That is the question of questions! Who is able to answer such queries? I would reiterate the aphorism from Professor John Kenneth Galbraith: "There are those who don't know and those who don't know they don't know." The case rests here with economic wisdom as an inexact science.

Francis Shieh a.k.a. Xie Shihao, an octogenarian learner to be unlearned until reaching the age as a centenarian. That remains to be seen in the days,weeks,months, years or decades to come.

Sunday,November 23, 2008 at 9.50 a.m.