From WSJopinion: The economic crash is 'unflating' decades-old bubbles in several stagnant industries, writes andykessler
Stanford Health Care cut employees’ pay 20% in late April. JetBlue Airways halved top executive compensation. A huge glut of oil, wine, airline seats and even lobsters means prices are plummeting.
And whoa, Apple’s new iPhone SE is $399, quite a change from its $999 models. It’s starting: April’s consumer-price index was down 0.8%, but get ready for steady price declines and a long trip down that escalator. Like a released balloon going pffflllttt in slo-mo. Let’s call it the Great Unflation.
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