March 27th, 2009

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Deflation In Action

"Even banks that are eager to lend find some of their best customers reluctant to extend themselves."

“The people that want the money don’t deserve it, and the people that deserve it don’t want it,” said John B. Satterberg, president of Community Financial Corporation.

"As goods pile up unsold, demand weakens and expectations of lean months ahead cause businesses to cut production..."
http://www.nytimes.com/2009/03/27/business/economy/27portland.html?em=&pagewanted=all