> The fact that having a deflationary money supply is bad. Your "fact" encodes a lot of presumptions. Bad for whom? Moreover, post-civil-war US (deflationary

> The fact that having a deflationary money supply is bad. Your "fact" encodes a lot of presumptions. Bad for whom? Moreover, post-civil-war US (deflationary) is a good counterexample, not entirely clear that that era was "bad", hell, a good chunk of the population was emancipated from slavery amidst deflation.