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It's looking increasingly likely that inflation is a fiscal, not a monetary phenomenon, as Chris Cook has been pointing out for a long time.

Well, to all but die-hard austerians, it is becoming increasingly obvious that deflation is a fiscal phenomenon.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Dec 1st, 2013 at 08:02:58 AM EST
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