And that's basically deflation 50 percent deflation.

That's a 50 percent deflation rate.

So you're already seeing deflation in wages.

That's the dividing line between inflation and deflation.

So because of our innovation, we actually experienced deflation.

You see we've had a couple of bouts of deflation.

Everyone's talking about inflation and deflation these days, including myself.

And the opposite of inflation, if things actually get cheaper, is deflation.

In terms of price performance, that's a 40 to 50 percent deflation rate.

Actually, let me draw a zero line, so you can separate inflation from deflation.

All the talk today is about are we going to see inflation or deflation.

They know that to be the case. And the third is, they devolve responsibility to the school level for getting the job done.

In the last video I spoke a bunch about the determining factor on whether we have inflation or deflation.

And trust me, this will eventually lead to whether we're going to see inflation or deflation in this economy.

I've done a bunch of videos now on inflation and deflation and how they can be impacted by capacity utilization.

That leads to deflation and we'll talk in future videos why in many circles that is viewed as a scary thing.

If you have 50 percent deflation, people may increase their volume 30, 40 percent, but they won't keep up with it.

We had deflation during the Depression, but that was collapse of the money supply, collapse of consumer confidence, a completely different phenomena.

I'll return to the drawing board, literally, in the next video and we can proceed with our discussion of inflation and deflation.

But, in any case, the deflation of this glacier since 1984 has been higher than the Eiffel Tower, higher than the Empire State Building.

A lot of people, when I have this inflation deflation argument, they make this argument that China and India are going to continue growing.

paralyze into into silence.

And when so much of our economy, and even the basket of goods in the CPl and I'll do another video on that is service based, if you're seeing deflation in wages, that's another data point that tells you, at least in the medium term, we're probably going to see further deflation in prices as a whole.

Does it see into me, into us?

It's got to get into people's houses, into the bedrooms, into the kitchens.

Step into

Step Into

Into line!

Into chum.

Into Burma.

Into town.

Into her.

And so in the situation that we're in right now, if you're wondering about whether you're going to see inflation or deflation, my argument is look at capacity utilization.

What are you into? Who are you into?

Then that again transforms into giving, into sharing.

Into the cauldron, handsome Into the cauldron, handsome

They typed it into Google, translated it into Italian, went back into Italian Google.

So if you divide this into 2, this into 2, and this into 2.

The wrong roads have led us into war, into poverty into unemployment and inflation.

And we'll talk in the future about inflation and deflation and the fact that there is a constraint on how much gold can be produced, but you can print money.

And from conception into development, into manufacturing, into implementation, many, many jobs have been created.

3 goes into well, 3 doesn't go into 1.

So divided into two groups or into two collections.

I talked Moat into letting Grace into the village.

8 goes into 12 it doesn't go into 1, so it goes into 12 one time.