Deflation Phobia on the NYT Editorial Page

It's baaaaaaaaaaaaack! Those silly warnings about the menace of deflation, this time in a NYT editorial. Come on folks, this one is really simple, the problem of deflation is an inflation rate that it is too low. Even an economist can figure this one out.

When you have near zero inflation many prices are already falling. What's the difference if the price of 55 percent of goods and services are declining instead of 45 percent. Besides these are all quality adjusted prices, so in many cases t...