Even if we assume deflation is bad for the economy, we also have the problem of trying to stem it if it is caused by an excess of supply from outside (e.g., cheap Chinese imports). Can the government -- any government
-- really pump enough money into the economy or spark enough demand to overwhelm the supply of cheaper goods?
Can you make the currency cheaper faster than production efficiencies can make the goods cheaper?

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Fred Uleman, a translator, not an economist