Why the Deflationists Are Wrong

Mises Daily: by Gary North

An inflationist is someone who believes that price inflation is the result of two things: (1) monetary inflation and (2) central-bank policy.
A deflationist is someone who believes that deflation is inevitable, despite (1) monetary inflation and (2) central -bank policy.
No inflationist says that price inflation is inevitable. Every deflationist says that price deflation is inevitable.
Deflationists have been wrong ever since 1933.