Yes, I agree. Despite the inflation figures that the governments of US, UK
and Europe are producing, they are probably as faulty as GDP figures. For
the broad mass of the population we're probably already at 0%. When the
official figures start showing 0% in due course then we'll be definitely
into deflation -- joining Japan, which has now officially admitted that
it's now back to the deflation of the 1990's period.
Obama won't dare raise interest rates for fear of increasing unemployment
so the dollar value will continue to decline and the Chinese renminbi will
continue to go down in lockstep. Meanwhile what will the euro and the pound
do? They'll have to lock into the dollar, too, or else they won't be able
to export to America. So what will happen then? I reckon a long, long
recession and, during it, a continuing rise in gold price (plus those of
the other rare metals, plus the lanthanide rare-earths [desperately needed
for electronic circuits] ). In short, the arbitrariness of nationalized
currencies, and the arbitrariness of central banks' interest rates, is
gradually forcing common sense into world-wide economics -- the restitution
of gold (and other valuable commodities) as the basis of a real currency.
Keith
At 17:28 22/11/2009 -0500, Steve Kurtz wrote:
Sounds deflationary to me..
Steve
==================================
EBay site crashes due to surge in listings
By Maija Palmer, technology correspondent
Published: November 22 2009 13:05 | Last updated: November 22 2009 13:05
Ebay became a victim of its own success over the weekend after a surge in
the number of items for sale caused the world's largest online auction site
to crash.
Millions of shoppers were left unable to use the website starting Saturday,
in the crucial run-up to Christmas, after a computer system failure.
Ebay said there had been a huge rise in the number of items listed for sale
on its site in the run-up to the holiday season this year. It currently has
over 200m live listings, 33 per cent more than this time last year.
MORE:
<<http://www.ft.com/cms/s/0/905f1d70-d766-11de-b578-00144feabdc0.html?nclick_>http://www.ft.com/cms/s/0/905f1d70-d766-11de-b578-00144feabdc0.html?nclick_
check=1>
__,_._,___
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Keith Hudson, Saltford, England, <www.evolutionary-economics.org>,
<<http://www.amazon.com/dp/1906557020/>www.amazon.com/dp/1906557020<http://www.amazon.com/dp/1906557020/>/>,
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