Has anyone started a betting pool on where the Dow will settle at? CollateralDamage Sr. and I were discussing this today. He said 7000. I said 6000.
More happy news: Welcome to the wonderful world of deflation A new post by me over at BlownMortgage:
Like everyone else I’m relieved gas prices are dropping. As gas prices drop so do those of a lot of other things, like food and shipping and clothes. That’s all good, right? Yeah, unless they don’t stop dropping. When that happens you have deflation and it is very bad.
Simple definition: “A general decline in prices, often caused by a reduction in the supply of money or credit. Deflation can be caused also by a decrease in government, personal or investment spending. The opposite of inflation, deflation has the side effect of increased unemployment since there is a lower level of demand in the economy.”
Click above if you have the stomach for it.