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[–] CanIHazPhD ago
The 100 years of growth with deflation was for an economy based on natural resource exploitation, which is already a thing of the past. It was basically people picking the low hanging fruit, which was plentiful and widespread (agriculture in new lands, cash crops, logging, minerals, oil, etc.), that can't be done again.
If you look at countries that are not resource rich (Japan, South Korea, even India in recent years) you'll see that healthy economies always operate with low, but positive inflation rates. If you look elsewhere you'll see that countries in deflation always end in recession or other troubles due to deflationary spirals (look it up in the previous reference, unless that's too mainstream too)
[–] ForTheUltimate ago (edited ago)
causally explained by a central bank. not the rest of the economy.
1920 crash, stocks fell by more than in 1929. It's not an endless spiral because of the same reasons you fail to grasp. Deflation only ends in recession briefly to liquidate misallocations from the inflationary policies of your kind. Maybe the fed did something there. but I bet there are recessions that recovered absent any inflationary policy of your kind, thus disproving your ''death spiral'' theory. There is a spiral but it has an end.
[–] CanIHazPhD ago
"I bet there are..." Strong argument there.
And inflationary policy is not to stop recessions, it's to promote growth and prevent recessions.
[–] CanIHazPhD ago
Obviously, no government would lead it's own country to recession, that's why they operate with inflation and take pains to keep it in check.
And 2008 crash, too. And other countries crashes. Recessions are brief because people have incentives to get out of them, not because they "liquidate misallocations", what are you blabbering about.