>There are no counters that I'm aware of that have suffered a deflationary collapse. Isn't that because long term deflationary currencies are quite rare? I'm g

>There are no counters that I'm aware of that have suffered a deflationary collapse. Isn't that because long term deflationary currencies are quite rare? I'm genuinely asking, I was under the impression that deflationary collapse was rare because systemic deflation was rare, not because it was common and working just fine. The arguments as to why deflation is bad always seemed fairly simple and common-sense (if you earn money just by having money without taking any risks nobody invests anymore and economy grinds to a halt, basically). >If I look up the Wikipedia page for deflation I'm given hellholes like Hong Kong and Japa... no, wait, those are some of the places I'd actually prefer to live than where I am now. You make it sound like these places became what they are because of deflation. That's a very peculiar read of that wikipedia entry IMO: >Following the Asian financial crisis in late 1997, Hong Kong experienced a long period of deflation which did not end until the 4th quarter of 2004. Many East Asian currencies devalued following the crisis. The Hong Kong dollar however, was pegged to the US dollar, leading to an adjustment instead by a deflation of consumer prices. The situation was worsened by the increasingly cheap exports from Mainland China, and "weak Consumer confidence" in Hong Kong. This deflation was accompanied by an economic slump that was more severe and prolonged than those of the surrounding countries that devalued their currencies in the wake of the Asian financial crisis. As for Japan, while it's definitely still a extremely important economy they lost a massive amount of ground since the 90's. I don't know if deflation made things better or worse, but it's not like it's been a massive success story.