I just asked him and will put reply in this post, but I'm assuming that the difference is that stagnation seems to be zero growth, and depression remains negati

I just asked him and will put reply in this post, but I'm assuming that the difference is that stagnation seems to be zero growth, and depression remains negative. [update]Here's what he sent me: Pretty much the same thing. However, in the 1970's stagflation, there really was a more supply and demand driven component to inflation with extra pressure from wage growth. In our current situation, I see a huge component of deflation coming from credit and housing, and the inflationary component comes/will come via the currency. Compared to the 1970's this is less messy, in a way. it's very clean. Classid deflation from a burst credit bubble, and then classic currency-based inflation via lost purchasing power.