There are a handful of newsletter writers — but not one economist — who predict deflation. Why no economists? There is an old line, “where there are four economists, there will be five opinions.” You would think that there would be at least one Ph.D-holding economist out there somewhere who is predicting price deflation. Maybe there is, but I have not found him yet. Note: nobody is predicting monetary deflation. The deflationists are predicting monetary inflation and price deflation. So, when you read someone who says that price deflation is just around the corner, you can be 99% sure that … Continue reading Deflation Is a Fairy Tale