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Irving Fisher, the great classical economist, tells us that the definition of debt deflation is when everyone in a market tries to reduce debt, which results in distress selling. This leads to a contraction of the money supply as bank loans are paid off. This in turn leads to a fall in the level of asset prices and a still greater fall in the net w
... See moreJohn Mauldin • Endgame: The End of the Debt SuperCycle and How It Changes Everything

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