Zero Hedge: CNN Is Wrong... Deflation Is A Good Thing
It isn’t just CNN. Economists have always been terrified by deflation. That is why the Fed inflation target is 2% - to stay away fron deflation.
My point is that the electronics and technology sectors have survived, prospered and excelled in an environment of declining prices for at least the last 75 years. The first televisions (or computers) were very primitive by current standards, and were quite an investment at the time. How many billionaires have been made in these industries?
I don’t know why the entire economy wouldn’t benefit from deflation, especially since many things are more necessities (like food) than the latest tech gadget.
nack