There is actually deflation in Zimbabwe now. From Wikipedia: """In an effort to combat inflation and foster economic growth the Zimbabwean Dollar was suspended

There is actually deflation in Zimbabwe now. From Wikipedia: """In an effort to combat inflation and foster economic growth the Zimbabwean Dollar was suspended indefinitely on 12 April 2009. Zimbabwe now allows trade in the United States Dollar and various other currencies such as the South African Rand, Euro, Sterling, and Botswana Pula. The use of the US Dollar yielded enormous results within weeks as inflation actually fell below zero to -3 percent.""" Also, a brief repetition of what we have learned from Keynes: """Economies can and often do suffer from an overall lack of demand, which leads to involuntary unemployment.The economy's automatic tendency to correct shortfalls in demand, if it exists at all, operates slowly and painfully. Government policies to increase demand, by contrast, can reduce unemployment quickly. Sometimes increasing the money supply won't be enough to persuade the private sector to spend more, and government spending must step into the breach""" This is the point we are at now "government spending must step into the breach". And we can borrow to our harts content because we are in a liquidity trap where rates are zero, and deflation is the clear and present danger, not inflation. If inflation comes back, we should cheer, because that means that the economy is doing better again. Comparing the US to Zimbabwe is complete nonsense.