Tim Iacono

Deflation is coming! Deflation is coming!

So says Tim Iacono of "The Mess that Greenspan Made", and who am I to disagree? After all, I've been writing about the dangers of deflation for awhile now.

Actually, Tim makes the comment in a mocking sense, noting that

In the U.S., the latest consumer price data will be reported on Friday and we may be in for a veritable "Deflation Tsunami" from the mainstream media since we were teetering on the brink of a negative consumer price index last month.

Tim's essential point, if I read him correctly, is that the deflation we have experienced is really just the popping of the Oil price bubble.

So, am I going to get into a mud-pie flinging contest with Tim? Hardly. Actually our two views aren't that far apart.