But ‘Economists Say’…

by Karl Denninger

Deflation is bad, mkay, even if you can’t afford anything right now you just have to suck it up.

Who wrote this piece? Good question — all we have is who contributed to it from AP’s Auto Desk (in Detroit, of course) home of the place where they have tarted up pickup trucks to the point that they likely have $40,000 gross margins on that $90,000 truck.

Of course there is no option to buy the $30,000 version anymore without all the gizmos because “nobody wants it” they say. The truth is that plenty of people would want it if you didn’t have inexpensive financing. Oh wait, that seems to be gone now due to the lack of uneconomic interest rates that were all the rage for 10 years in the post-crash era after 2008.

Hmmm….. what was the problem again?

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