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Deflation: Why Falling Prices Are Bad

Guided Notes (Teacher Key)

Irving Fisher's five-step debt-deflation spiral stands answered line by line, alongside Japan's 38,915 Nikkei peak in 1989 and its negative CPI readings stretching from 1995 through 2012. The Great Depression's 25 percent price drop and its 9,000 bank failures carry full figures.

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