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Deflation sucks. Here's some thoughts on why:
Why buy something today when it will be cheaper tomorrow. Consumer spending decreases even further which makes more companies go out of business as they aren't needed any more. Also, it might make walking away from a loan more attractive as the loan amount in real dollars becomes more painful. Also, why take a risk with your dollars and invest in a small business when you could just sit on them and have them grow for you
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As for our common defense, we reject as false the choice between our safety and our ideals.
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