Lew Rockwell on the magnificence of falling prices:
It is a marvelous thing to see the market work, in good times and bad. Just look at the way that marvelous, unplanned barometer of wise resource use — the price system — has reacted in response to the human reality of economic downturn.
As we prepare for the future with the holidays upon us, consumers are wondering whether it is a wise thing to take on too many new financial burdens. They are cutting back and still somewhat indecisive about the economic climate. For most people, the only real evidence of downturn they see is the devastation that has been wrought on their retirement accounts. This causes quite a psychological hesitation to buy.
What consumers need to spend is a solid inducement, one that coordinates financial responsibility with their material needs. And the retailers are there to provide it.
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