With the exception perhaps of politicians there's hardly another group with more jokes floating about than economists.That's just one common characteristic they share. The second one is all those jokes are well deserved.
The economic rage globally since the last recession has been who can show their fighting deflation the hardest and the most. That could be an annual award with the requisite event like the Oscars. When did declining prices become so villainous? When MSM lead by a bunch of the Dismal Science crowd picked up the meme.
As for that award, Japan might be a good choice to inaugurate the festivities as noted here from mishtalk.com/2016/03/25/economists-increasingly-worried-about-people-having-too-much-cash.
Household assets up. Savings up. Debt down.
The fact of the matter is Japan has essentially forced its citizens to save simply to cover the largest debt-to-GDP ratio of any large, developed country.
Q: Why did the debt-to-GDP ratio rise so much?
A: Deflation fighting efforts arising from economist’s worry over falling prices.
Given the hyper-fear of falling prices, I have to ask: Has anyone died from it?
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