Kipp:
"No deflation stories in the press that I can find."
That's not surprising to me. Inflation is about a 10 times sexier story than deflation. Besides, we (as a society) have understood inflation for our whole lives. We have no idea what "deflation" looks like and for anyone to report seriously on it means massive education. Education is not something that the media want to participate in. They want headlines - and the more fearful, the better. They yell "Deflation" in a crowded theater and half the readers are going to see better prices on food and energy. The other half will say "What's the problem with that?"
I suspect deflation would be on top of us before the vast majority of people even knew it. In fact, I wouldn't be surprised if the vast majority of people were bitching the day before about inflation. Deflation is going to be a lot more subtle - at least in the early stages. Of course, this assumes it will happen at all.
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