This is an interesting article at The Economist that shows why the ECB QE will be a disaster and why there is much more to come. Deflation is good on one hand in that prices at the consumer level fall. The problem is that it becomes a self sustaining downward spiral because people think if prices are falling now, they will hold off from buying because the item will be cheaper in the future. This is however a necessary process in the monetary cycle.
The launch of euro-style QE
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