Obviously there are situations where it is good and for certain people, say a right sizing of an overheating economy/sector but on the whole, and more generally, it is bad, not something you look to as fine or alright.
"A little bit of deflation is a product of, and good for, economic growth. But, in the case of an economy-wide, central bank-fueled debt bubble followed by debt deflation when the bubble bursts, rapidly falling prices can go hand-in-hand with a financial crisis and recession."
This is what I'm saying.
They're just saying in our debt fueled world, you can't merely print money to get out of jail free in a deflationary scenario as eventually the debt obligation gets too large relative to your shrinking economy size. We live in this world unfortunately where it's bad, in a hypothetical world without all the debt, it's still bad in the long term for the other reasons I've mentioned.
It depends on how deflation comes about. Technological innovation? Pretty good as the 1991 Radio Shack ad illustrates:
* https://www.huffpost.com/entry/radio-shack-ad_b_4612973
Through a collapse of economic activity and mass unemployment? Not so good.
> Most of the time, deflation is unambiguously a positive trend for the economy, but it can also under certain conditions occur along with a contraction in the economy.
[0] https://www.investopedia.com/articles/personal-finance/03091...