There has been a raging debate on Silicon Investor, the Motley...

There has been a raging debate on Silicon Investor, the Motley Fool, Minyanville, and nearly everywhere else too about whether or not it is possible for a Japanese style deflation to happen in the United States. Almost everyone denies the possibility outright. Because most people writing about or discussing this issue do not have a background in economics (myself included), I asked Paul Kasriel Sr. V. P. and Director of Economic Research at The Northern Trust Company for his thoughts on deflation in Japan vs. deflation in the US. We also had a brief follow up phone conversation after I received his email response. What follows is an email from Kasriel as well as a synopsis of our phone interview. These conversations took place on December 7th and 8th 2006 with one followup question over the weekend. No, this is NOT a spoof as was An email from Bernanke. This is the real deal. Email from Paul Kasriel

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