In another sign of deflationary pressures, the Washington Post’s Michael Ruane reports that panda prices have plummeted:
The National Zoo has reached an agreement with China to extend for five years the stay of Washington’s beloved black and white bears at a dramatically reduced cost. …
The old $1 million-a year, 10-year lease expired Dec. 6.
Update: Sarah Brumfield (AP via Washington Times) reports the new price is $500,000 per year, half the previous level.
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