“The risk of deflation is higher than desirable,” said the Fed chairman just days ago.  If the sheer unanimity of the political and financial establishments regarding deflation and how unthinkable it is — and whose prevention requires deft intervention by the wise custodians of our money supply — has you smelling a rat, you’re on the right track.  For the whole story, put Guido Hülsmann’s mp3 “The Economics of Deflation” on your iPod.  And read Joe Salerno, in this shorter piece and especially this (.pdf) longer one.

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