Comment by fredthomsen

It's very easy for people today to forget the 1800s that had significant periods of deflation and thus one of the reasons the federal reserve was created... although they allowed deflation to happen during the great depression as well. There is certainly some debate that can be had about the way to easy money policies that exist today (and I do think it's far too dovish), but people need to learn their history and realize the damage that deflation does.