Tag Archives: debt explosion

Stacy Summary:  Okay, I have eyewitness deflation report for you.  A rather posh restaurant only 50 yards from our apartment has had a fixed lunch menu for 4 years now set at 25 euros.  This included three courses and a glass of wine and the place was always packed (it’s not exactly an enormous restaurant).  A few months ago, it was no longer so packed and the set menu price was cut to 16 euros.   Today, they cut the price to 14 euros, which is amazing for Paris.  That’s the price normally seen in a restaurant catering to students or a bit lower end of the market.  The set menu still includes three courses and a glass of wine.

• US lurches toward ‘debt explosion’ according to former chief economist at the Fed

• India’s fiscal deficit widens to 6.8%, govt expected to borrow record $93 billion

• “The disaster in Spain will continue”

• “The recession will get worse,” Gordon Brown warns world leaders