The issue with Greece is that they aren’t very productive and live beyond their means against the savings of the Germans and others. So no, you cannot use that

The issue with Greece is that they aren’t very productive and live beyond their means against the savings of the Germans and others. So no, you cannot use that as an example. As for Japan, they have had massive population drop and inefficiencies from closed borders that probably reflects a greater reason why there has been a deflationary period. For a better idea, you could look at say the cost of a loaf of bread from late 18th century to 19th century and it remained flat in the US. In the late 1800s-1920s, was the greatest growth period for the US and AFAIK the cost of living fell from increased productivity and technological improvements. Inflation destroys savers, which leads to reduction of investments. savings = investments People forget that somehow.