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We really need to talk about "inflation", as Alan Greenspan was trying to way back in '96.

Eurodollar University

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The Difference Between Deflation and Efficiency

Low or disinflationary prices of the 1990s actually deflation? Is there a difference between prices falling for different reasons? Now we all understand intuitively progress, free market capitalism. What we experienced through the great moderation was the euro dollar system bringing all of these factors together combined. It created efficiency throughout not just US economy, but the global economy in a way that meant we were all benefiting from it.

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