Debt Rattle, June 11 2008: Cheerleading, fear and reality

1930, London, England: The March of the Unemployed from the Thames Embankment to County Hall Stoneleigh: Many of the stories today reflect the perennial misunderstanding as to the nature of inflation. Price rises are not inflation - inflation and deflation are monetary phenomena. Changes in the money supply can lead to price changes, but prices do not always move in the direction one might