Radical Solutions for a Crazy Economy | Corporate Accountability and WorkPlace | AlterNet

The man who the Wall Street media whores derided as "Dr. Doom" just a couple years ago - writes: " ... Deflation also leads to the nightmare of debt deflation, a situation well analyzed by Irving Fisher during the Great Depression. If debt liabilities are in nominal terms and at a fixed long-term interest rate, a reduction in the price level increases the real value of such nominal liabilities. So debtors who are already distressed in a recession and deflation become even more distressed as the real burden of their liabilities sharply rises. ... " Read it all at: AlterNet