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@taskmaster4450le
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We see it now with the printing press working 24/7. It fights deflation, period.

They are trying to fight it..thus far it is a losing battle. Of course, they are not printing nearly enough to offset what is taking place.

I mean that deflation is worse than inflation as it breaks the economic in all it's aspects.

The difference is that, with inflation, the central banks can fight it easily. There is a way to stamp it out in a few second, simply raise interest rates. That crushes inflation in a moment. Of course, it takes the entire economy down with it.

100 years ago people were still sending post by horses and no one could imagine the e-mail we have today.

It is so true that we cannot envision things 100 years ahead of us. However, today I believe that we cannot even view what will be around in even 30 years. Things are simply moving at too quick a pace.

Ultimately, economics will have to be altered to embrace the new technological reality. Unfortunately, economists do not thoroughly understand the technological impact upon their field.

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