Until recently, 99 cent stores were having trouble finding stuff to sell at such a low price. Fortunately, deflation will come to their rescue.
99 Cent Store
Ted Rall
Ted Rall is a syndicated political cartoonist for Andrews McMeel Syndication, WhoWhatWhy.org and Counterpoint. He is a frequent contributor to The Wall Street Journal, a graphic novelist and author of many books of art and prose, and an occasional war correspondent. He is, recently, the author of the graphic novel "The Stringer."
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Ooh, big bad deflation! How happy the Zimbabwean citizens must be in comparison.
But fear not, American comrades, what's in store for you if all the planned (and soon to be pleaded) bailouts come to pass, that future of hyperinflation is much more likely than deflation. Hyperinflation combined with economic stagnation. It's not very nice, I assure you.
For once, I agree with Incitatus.
Just as with the Vietnam conflict, there's a huge war debt dragging the economy down. In addition, there's the pent-up inflation pressure resulting from keeping the interest rate artificially low.
Same scene, and Paul Volker will be reprising his part for the new century.
War debt? How about bailout debt? We are on the hook now for $7 trillion to bail out Barney Frank, Franklin Raines and Chris Dodd's economy.
Too bad the collapse of the American house of cards has probably botched an economical upturn for us down here in the other America (at least for the countries that are not ruled by crazed socialists like Chavez). Otherwise, I would say "hasta la vista, baby" as you headed downwards.
At least we won't have hyperinflation. Again…
And Always Right, if you think the war debt is peanuts, you're Barney Frank's soul brother.