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Recent Posts

Peter Schiff Says Deflation Is Great (& Doesn’t Understand Difference With Price Compression)

Peter Schiff once again demonstrates his economic illiteracy by comparing cell phone & laptop prices with staple prices. Prices of cell phones and laptops are not dropping due to deflation, they are dropping due to price compression mainly from technological advances. Why does this primitive ape think the US government introduced the concepts of ‘hedonics’, quality and substitute bias into inflation calculations – no, it’s not to fudge inflation data – it’s to properly balance out apples to orange calculations across different product categories. Despite Japan’s lost 2 decades as an example, this nincompoop still maintains that deflation is great for economies. www.businessweek.com www.nytimes.com www.nytimes.com [...]