It's a topic which lurks at the edges of today's discourse of financial doom. It seems to be what happens when the inflation of asset values ends; an implosion of value and economic activity. The nemesis to the hubris of the central banks, perhaps.
As I often do, I am speaking intuitively, reading between the lines of the voluminous and contradictory economic opinions out there. I don't know what its role will be, but intuition says that in the unfolding saga of the post-2008 global economy, deflation will have its moment.
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