deflation

Deflationary spiral

According to Veronica Diesen a deflationary spiral is going to end Norways dream of becoming a rentier state;”The Nor-euphoria has been made even worse by its fossilised madness and its attempt to turn itself into an imperial creditor, a rentier state, all for the exploitation of debtor-countries and their labourers. The neat idea has thus been for poorer countries to subsidise Norwegians with their pensions.”