Mullaney Keating & Wright

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BEWARE DEFLATION — REDUX

John Makin of the American Enterprise Institute continues to sound the delation alarm for both the US and Europe in the attached Central Banks Need A New Plan For 2014.  He takes a pretty good swipe at the “hyperbolic crtics” of the FRB and the ECB and definitely thinks that the risk of inflating an asset bubble is well worth it IF deflation can be avoided. It remains to be seen if Very Serious People on both sides of the Atlantic heed his advice.

TFM