DeflationThe Poem
(Chris Biddle's version)
Deflation has become
The Fed Gangs new concern,
Prices they are sinking
Greenspans boys discern.
But about this way of thinking
Im way far out ahead,
In deflations icy realms
I long have had to tread.
My whole lifes now deflated
Its lost its grand old puff,
What used to be quite easy
Has really gotten tough.
By a host of nasty downturns
I find myself beset.
The only thing thats rising
Is my credit debt.
My salary is frozen
For hard cash I am strapped,
The kids college tuition
My savings, alas, has sapped.
The pension that I thought
Would make old age less weighty,
Has gone up in a cloud of smoke
Now Ill work until Im eighty.
Returns on my stock portfolio
Range from terrible to middling,
My bond yields are so pitiful
At best they are now piddling.
My homes once soaring equity
Has been tapped and spent,
Instead of payin a mortgage
Wish I was payin rent.
Its futile to debate it
Or even to berate it
I only need to state it
My dreams have since abated
On thin ice I too long skated
My life sadly deflated
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