You seem to think that deflation only occurs when money supply shrinks. I believe that if money supply grows more slowly than output grows you have deflation. Like I said, you have a unique and wrong headed view.
He didn't get poor for owning a home. He lost money from buying a home on credit and then selling it. But how much did he really lose? He had 105,000 into it and walked away with 15,000 so that leaves his loss at 90,000. Divide by 120 months and you get 750 bucks. Darn cheap rent for a 300,000 dollar house in the burbs. People pay 1,800-2,000 a month on 280,000 dollar townhouses in Buffalo Grove, IL.
He lost $90,000 of equity. That doesn't include the interest he paid. But he's none the worse. LOL!!
Real wages haven't gone up since 1975.
That's funny, you have a source for this silly assertion? And while we're at it, you have any scholarly studies that agree with your assertion that deflation is no big deal?
Besides didn't you ask earlier what would happen if the economy grew 4% and the money supply didn't. According to you, there couldn't possibly be economic growth without a commensurate money supply growth so you contradict yourself with the question.
I claimed no such thing. Of course there can be economic growth while the money supply stays constant. Prices will drop and employment will eventually suffer. Debtors will default and anyone who holds hard assets will suffer. Business will reduce rather than increase production but that is not a problem according to you.
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