Europe and Deflation Paranoia

European Central Bank in frankfurt.Frank Hollenbeck writes in today’s Mises Daily:

There is a current incessant flow of articles warning us of the certain economic calamity ifdeflation is allowed to show its nose for even the briefest period of time. This ogre of deflation, we are told, must be defeated with the printing presses at all costs. Of course, the real objective of this fear mongering is to enable continued government theft through debasement. Every dollar printed is a government tax on cash balances.

There are two main sources of deflation

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