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Still Fighting Deflation

By Richard Russell

 

I keep hoping for a world where it is possible for all people to love one another, where anger and violence are unknown. And yet the smartest people I know are talking about disaster and the stock market collapsing.

 

After a long period in which central banks pitted their strength against deflationary tendencies, central banks the world over are still fighting the major forces of deflation.

 

Right now I'm hoping that the stock market in all its wisdom sees a way out of the current predicament. Recently the trend has been mildly bullish but is not yet conclusive.

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I see in the paper that Merv Adelson has died at the age of 85. He was married to my old friend Barbara Walters at one time. At his peak, Adelson was worth 300 million. But he lost it all in the dot-com crash. One by one I'm losing all my old friends and ... Log in or subscribe to continue reading.


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