Euro Zone Already Suffers from Dreaded Low Inflation

The NYT persists in pushing the bizarre notion that something horrible happens to economies when the inflation rate crosses zero and turns negative. Today it gave us an article with the headline of an article, "Euro Zone Edges Closer to Dreaded Deflation."

The story is that inflation in the year ending in April was just 0.5 percent, as compared to 0.7 percent for the year ending in April. It tells readers:

"Many economists say that inflation is already well below the danger zone for tipping i...