Inflationary beast yet to be tamed in the Gulf | GulfNews.com:
"In these post-crisis times, inflation has almost become regarded around the world as a good thing. Certainly it seems the settled position of both policymakers and commentators that the opposite condition, deflation, is a very, very bad thing indeed.
As discussed here last week, governments and their agencies the central banks are doing their utmost to keep prices rising, to enable the steady diminution of accumulated debt on the one hand, and prod consumers into spending rather than saving their cash on the other.
Such is the fright that the potential for deflation creates that the managing director of the International Monetary Fund (IMF), Christine Lagarde, last week referred to it as an “ogre that must be fought decisively”. Doubtless, with special concern for the workability of the Eurozone, that warning was heartfelt."
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