They can't deny it's a problem if you've got a photo of it.--
Cheese is not a hat. - clock
It's theoretically a good way to fight deflation,
but it's never really been proven to work. Japan tried it, without much effect either way: didn't seem to do any significant harm or good.
I had quite an ironic argument with Breaker over it a while ago, where I was cautiously optimistic about it and he was dead against it. Since he's massive net debtor (i.e. new homeowner) he benefits from inflation and will be harmed by deflation. As a saver, I will be harmed by inflation, and benefit from deflation.
So really I should be the one screaming out against it. Deflation for the win! --It is unlikely that the good of a snail should reside in its shell: so is it likely that the good of a man should?
So, prices in the shops are halved, my salary's halved, your salary's halved, my rent's halved, the price of your house is halved...
But your outstanding mortgage stays the same, and your monthly mortgage payments stay the same.
Basically you either declare bankruptcy and lose the house, or you spend years digging yourself out of negative equity...--It is unlikely that the good of a snail should reside in its shell: so is it likely that the good of a man should?
Glad I took out my Tate membership, it's really worth it.
--------It's political correctness gone mad!
Make sure you check out the Member's Room balcony at Tate Modern if you haven't already...--It is unlikely that the good of a snail should reside in its shell: so is it likely that the good of a man should?
"Beautiful wine, talking of scattered everythings"
(and thanks to Scrymarch)