As for the inflation-deflation debate, one has to keep in mind that the general public will likely suffer either way in the current economic climate worldwide. Further, one may need to view inflation trends in the context of change in the value of currency.
From Zero Hedge:
The jury is out: I have been in the deflation camp personally for the last 2 years, but I hear the arguments for Zimbabwean hyperinflation, or the case of the oscillation in no man's land as governments and central banks stop us on our way to the deflationary Kondratieff winter at each market collapse with a new round of monetization. Maybe this last cynic remake of the Japanese lost decades is the most obvious way to bet on the demagogy of our modern "capitalist" system where government are helpless against deflation and will therefore sacrifice our future and the planet if they have to in order to save whatever face they have left.
http://www.zerohedge.com/article/inflation-or-deflation
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