Does the world have the courage to deal with its debts?
Economy • September 2009 • Views: 483
Deflation is spreading from the core of the global system to the most unexpected regions of the world.
It has even reached Latin America. Prices are sliding in Peru, Chile, Colombia, Paraguay, Bolivia, Ecuador, Guatemala, and El Salvador, to the consternation of everybody.
Enough of the world has already fallen so far into pre-deflation conditions that any misjudgment by the big central banks from now risks setting off a chain-reaction that may prove very hard to stop.
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There are three ways out of our mess …
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