Deflation Quotes

“The sources of deflation are not a mystery. Deflation is in almost all cases a side effect of a collapse of aggregate demand.”

“If the vicious spiral of deflation is to be broken, it must be by some means other than waiting for it to break itself.”

“But the fact that a fall in prices is injurious to debtors applies as strongly to favored debtors as to other debtors.”

“The end of deflation is a good thing.”