Deflation, deflation, only game in town

The wife's tenant called this evening to say that the local hospital had cut her hours back and she couldn't afford the rent and was going to have to move in with her mum. Her husband works in construction, we imagine money was already tight.  We are going to offer her a cut in the rent, but I doubt it will be enough. We can afford it as we are both sufferers of PTED (Post Traumatic Eighties Disorder), we hoarded assets and married late, and thus the wife's house has had her name on it for 12 odd years. 

We have begun the race to the bottom, no plan for growth, just for expenditure reduction. Less work, less hours, less pay, less spend, little left to do. They didn't have a model for Ireland Inc for 10 years and never got a exchequer return right once, and lived with an inflation target that was reminiscent of a competition between two school boys in the showers.  Now they have no idea how their red pen financial management will lead to, but they call it a plan, we call it deflation.

Deflation and the establishment of a 'toxic bank' all at the same time? That's for another day.