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  1. Don Braswell says:

    Uhm, deflation is here to stay (probably). Yes, Japan inflation has creeped up. BUT they have had to give away an enourmous amount of QE to do that. Take away the QE, and I suspect the inflation drops. Baby boomers without savings are NOT going to spend more when they retire – they will spend less, cash in what few stocks they have, live with 70% of the promise SS and defined benefits RETIREMENTS; all of these trends are deflationary. In a DYSFUNCTIONAL DC, the states won’t get rescued for spending more, promising more, and then delivering less. Pretty sure fly-over country will not fund the newly promised California medical care, california pensions, Illinois pensions, etc… So, the inflation trend is down from here. (until its not – but first I expect Greece and Italy to fold, THEN the argument changes.)

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