"Deflationists argue, 'Next year, in America!' They have been wrong every year since 1933. "Inflationists argue, 'Next year, in America!' They have been correct every year since 1933. "Gentlemen, place your bets!" Those are the arguments Gary North presented in "'Inflation vs. Deflation' Revisited": "Monetary inflation produces price inflation. Monetary deflation produces price deflation. "The ...read more