This debate keeps cropping up. Now the Canucks are getting into it.
Being economic/monetary opposites, you would think there could be little doubt regarding which of the two we are in danger of experiencing. Yet there is.
Bringing that famous Canadian ambivalence, reserve and reticence furiously to bear upon the question isn’t likely to clarify anything, though.
Update: As if on cue, from the Casey Daily Dispatch. Truthfully, I don’t have much intellectual capital in this inflation-deflation fight, though I’ve posted about it a few times. My guess it’s that it’s an ongoing issue because a deflation can turn around and become an inflation right quick, for the simple reason that either, when it becomes extreme, is simply signaling lots of instability and disruption in the monetary system.