[chomsky]

Thank you Nicole for laying it all bare,

Now if only my inner circle of family and friends would read it!

Yes, deflationary death spirals work , for a while, in nations like Japan, with a homogeneous population, high savings , and good infrastructure. But as we see the social fabric is beginning to tear as the first casualty, the yen is devalued . Good in the short term, but now Mrs. Watanabe is really beginning to strain the purse strings.

And we see a nation like the USA with huge energy and Ag. sectors can survive, for quite a while so long as king dollar is bought.

With China struggling to prop up everything, will they be the event to kick this all off?

Noam

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