NYT Gets Just About Everything Wrong In Discussing Euro Zone Inflation

A NYT piece on the problem of low inflation and weak growth facing the euro zone got just about every aspect of the issue wrong. Near the beginning the piece tells readers:

"the euro zone is at risk of sliding into deflation, a downward price spiral that can ultimately destroy corporate profits and the ability of businesses to hire."

Actually the euro zone already faces a crisis because the low inflation rate means that the real interest rate (the nominal interest rate minus the inflation rat...