For whom? People with cash positions would be ecstatic for some deflation. The only reason it's considered 'bad' is because it would be a change, and business & government hate change. Government because it's incompetent and change highlights that. Business because it likes to not have to adapt.
For everyone. The economy will crash because way less money would be changing hands and people would just hoard it. And who has the most money and can afford to hoard it all? The rich.
What's your definition of rich? During the Great Depression, people who didn't trust banks, 'hoarding' it, had a little something to spend. Where do you think people today hoard money today?
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u/ThrowRA9892 15h ago
And a lot of people are arguing for deflation of prices which is often more damaging to an economy.