Even When Facing Deflation Lower Oil Prices Are Still Good News (Mostly)

Neil Irwin chronicles the evidence of worldwide economic weakness by showing data from a variety of markets in an Upshot piece. He is mostly on the money, most economies do face serious problems of insufficient demand, but his concluding comments could use some qualification.

He tells readers:

"Moreover, investors lack confidence that policy makers have the tools they would need to avert a new slide into recession after years of throwing everything they have at it to try to encourage recover...