Many people believe the price of gold is manipulated by Central Banks. Its only a theory.
Inflation due to increase in the money supply has asymmetric (ie. uneven) effects. Gold may have dropped, but as mentioned, property prices, health care, education - and yes, even a loaf of bread, has increased in the last decade
Inflation rate - the government fudges inflation statistics. Use them at your own risk.
Your last comment about freaking-out about deficits has nothing to do with my comments on inflation due to our printed, fiat monetary system. Yes, you are correct - a recession will have deflationary consequences, as I said.
We agree that a recession will cause deflation.
We may differ with respect to whether a recession caused by an over-rapid redemption of Obama’s debt is a GOOD thing or a BAD thing.
I am in favor of “slow-but-ready” recession-free program of bond redemption.
If you are not, I have to ask.
Is your “real name” Bill Maher?