We have studied past deflation in an attempt to understand the dynamic process involves. Blood in the Streets spelled out some of our conclusions as of 1986. We believe that deflation is much more likely at some times than others. Just as tornadoes or hurricanes occur only under certain atmospheric conditions, so spontaneous deflation and [...]

Most people believe that another debt deflation is no more likely than an invasion from Mars. And they behave accordingly. The average resident of English-speaking countries is deeply in debt, with the largest part of his assets invested in real estate. This is a gamble on inflation. For most real estate and other tangible assets [...]