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<blockquote data-quote="bbsam" data-source="post: 6021747" data-attributes="member: 22662"><p>[MEDIA=youtube]A1-9IFnmHAg[/MEDIA]</p><p></p><p>I would also submit that the phenomenal amount of debt (credit card etc.) held by the American public makes the Pigou effect even more complicated. Credit has been cheap for so long that people have had a false sense of wealth. Deflation would have lending institutions immediately pulling back. Probably not an entirely bad thing, but there’s no reason for banks to push credit for an economy they don’t believe is expanding aka in deflation.</p></blockquote><p></p>
[QUOTE="bbsam, post: 6021747, member: 22662"] [MEDIA=youtube]A1-9IFnmHAg[/MEDIA] I would also submit that the phenomenal amount of debt (credit card etc.) held by the American public makes the Pigou effect even more complicated. Credit has been cheap for so long that people have had a false sense of wealth. Deflation would have lending institutions immediately pulling back. Probably not an entirely bad thing, but there’s no reason for banks to push credit for an economy they don’t believe is expanding aka in deflation. [/QUOTE]
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