One critic once accused me of taking on straw men when dealing with deflation — no one argues against deflation that way, the critic said, so why are you addressing such arguments?
And yet here it is, as plain as day, in Business Insider: “The Truth About Deflation: Here’s Why It’s Terrible When Prices Go Down.” The author makes all the arguments that I was told no one is stupid enough to believe.
I am definitely going to devote an episode of my podcast to taking down this anti-deflation hysteria. It’s one fallacy after another.