Deflation is horrific for any economy because it makes debt more expensive to service. Like it or not, modern economies are largely able to function thanks to p

Deflation is horrific for any economy because it makes debt more expensive to service. Like it or not, modern economies are largely able to function thanks to prolific use of credit. If you think about it, it makes a ton of sense - if a rich person or company is sitting on a bunch of money, in an inflationary environment they are encouraged to invest this money in r&d, businesses (esp risky ones, like innovative startups), better employees or benefits for existing ones, etc. In a deflationary economy the best use of money is NO use of money. It's a death trap.