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Well, the problem with debt deflation is that it kills credit and this kills the "real" economy. So it is "our" problem, too, even if indirectly.

I don't see why there would have to be no way out of stagflation this time around.

We have met the enemy, and he is us — Pogo

by Migeru (migeru at eurotrib dot com) on Wed Mar 5th, 2008 at 04:43:39 PM EST
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