Jeff Tucker pointed out that gas prices were falling about a month ago and they’ve fallen almost a dollar since then. I just paid $2.12 for premium this weekend, and see that the national average is about where it was 3 years ago. As Doug French notes: this is “good news for those of us who buy things.”

Writes Guido Hulsmann in the preface to his Mises Institute monograph Deflation and Liberty (pdf): In the present crisis, the citizens of the United States have to make an important choice. They can support a policy designed to perpetuate our current fiat money system and the sorry state of banking and of financial markets that it logically entails. Or they can support a policy designed to reintroduce a free market in money and finance. This latter policy requires the government to keep its hands off. It should not produce money, nor should it appoint a special agency to produce money. … Continue reading Hooray for Deflation