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Deflation Fears: U.S. as Japan?

High unemployment and low consumer confidence. Is the U.S. looking at a Japan-style meltdown?

Left: Shoppers look around at a drugstore in Tokyo, 2010. Right: A liquor store in New Hope Pa., 2010. (AP Photos)

Big losses on Wall Street yesterday, and tough economic news all over. U.S. exports, down. Home foreclosures, up. 

U.S. economic growth is drifting down and down. The Fed may be running out of levers to pull. The “we’re coming back” theme of a few months ago is giving way to new fear of economic stumbling and tumbling.  And never mind inflation for the moment. 

Some savvy economists and investors are worried about deflation – prices and wages going down. 

Guests:

David Wessel, economics editor at the Wall Street Journal.

Frederic Mishkin, professor of banking and financial institutions at Columbia’s Graduate School of Business. From 2006 to 2008, he was a member of the Board of Governors for the Federal Reserve System.

David Resler, chief U.S. economist at tbe Nomura Group, a global investment firm founded in Japan.

Dave Scott, chief investment officer at Sunrise Advisors, a financial planning and asset management firm based in Leawood, Kansas.

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