Deflation would really be the best that could happen to the United States economy and maybe for the rest of the world as well. If one needs further evidence of the possibility of deflation, they need not go any further than China.
Maybe China going into deflation isn't really anything to worry about being that China was doing 5 to 6 percent annual growth anyway, but it certainly confirms a trend that will be reinforced when the PPI and CPI come out near the end of this week.
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