Expect a ‘Deep Slowdown’ in the Global Economy

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Perhaps comparable to the Great Depression, says the Bank for International Settlements. But wouldn’t you know that the “central bank for central banks” is worried about deflation, the one good thing about the depression? People are out of work, businesses are going broke: if only they faced high inflation too, thinks the Keynesian establishment! (Thanks to Robert Hiett.)

1:58 pm on June 30, 2008