Mises Daily
Author:
Frank Shostak
Online Publish Date:
In commenting on the ongoing Japanese slump, President Bush made the worst gaffe of his presidency. Bush relayed to a news conference that he and Prime Minister Junichiro Koizumi had discussed the “devaluation issue” in their talks. As the yen sank, the White House quickly clarified that Bush had meant the “deflation issue.” It’s true that