Falling Prices Raise a New Fear: Deflation

On a similar message track as Time, the Washington Post also has an article about the fear of deflation, Falling Prices Raise a New Fear: Deflation.

"Everyone is having these huge sales, and consumers know if they wait longer, the chances of them not having a good selection is fairly small and the chances are that the prices will be lower," said Charles McMillion, an economist who runs MBG Information Services. "So why buy today? This is exactly why economists are always scared to death of deflation."

This kind of conflicts with the belief here locally that even with the sales, people are not spending as much as in the past...