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« Lots More Downside for House Prices | Main | The WSJ on FDIC Insurance »

July 27, 2008

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Deflation=depression and i,m convinced it,s going to be a major one.However for now it's deflation for home owners and big inflation for every day necessities

Selling.your.greatgrandmother's.diamond.ring.to.raise
money.to.pay.the.taxes.and.save.your.property.is
one.thing..Selling.off.family.treasures.to.buy
heating.oil.is.another.I.survived.two.New.England
winters.with.five.children.back.in.the.eighties
with.lots.of.sweators,undershirts,and.a.kerosene
stove.They.make.good.ones.now.and.you.keep.one.room
warm.and.sleep.under.wool.blankets.Besides.cold.bed-
rooms.cut.down.on.children's.respiratory.problems.
You.can.survive.a.cold.winter.but.you.never.get.
the.ring.back.and.most.likely.will.regret.the.decision
later...Been.there.and.made.it.

No, we will have deflation only for the FIRE economy (financial insurance, and real estate).

Everything else will be going up. I can tell you one thing, the people pawning their gold will seriously regret doing so, when the only inflation proof assets will be precious metals.

This article reminded me of an old, but good, chestnut. Be sure to click on pages 2 and 3.

http://www.modernhumorist.com/mh/0006/misfortune/index.cfm


Triple heating oil ? Come on I buy heating oil myself and it is no where near triple. I added a lot of insulation to my house where ever it could be added. Maybe converting to wood heat and cutting wood like I did for 30 yrs.I'm old but if my heating bill tripled I would be back cutting wood on weekends.

Red

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