Europe Is Struggling to Avoid the Grip of Deflation from the New York Times
"Economists fear that an outbreak of ultralow inflation across the 18-nation euro zone is doing more harm than good to the bloc’s economic recovery."
"Deflation!? What's that?" Most Americans might wonder since the last time the US seriously faced this phenomenon was during what -- you guessed it, the Great Depression. The incompetence of European leaders to deal with their economic crisis is breath-taking.
2 comments:
The mere fact that ECB policy continues to focus on inflation illustrates their complete incompetence. When and if the Europeans wake up, they will have lost so much ground they will likely never catch up. Within a decade or two the Asians will be cranking out self-driving cars and jet aircraft “like sausages”. The technological advantage held by the Europeans is being rapidly eclipsed.
I share your pessimism about when/if the EU will ever get its economic act together. The fact that the Germans and others still have any concern about inflation tells me they are completely disconnected from reality. What happens to the EU, though, is not just a concern for the EU. Whatever is driving the resurgent fascism we now see there MUST be addressed.
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