Deflation is often regarded as the "cancer" in the field of economics. So far, no ideal solution has been found. All we can do seems to be to endure it silently.
This is just like the housing market in a community. Once the housing price starts to fall, if it can fall to the right level or even halve in an instant, then the clearance will be completed immediately, and the normal economic cycle will be restarted. However, the adjustment of prices is often very slow. Everyone is reluctant to lower the price. Those who are eager to make a deal choose to sell at a lower price, while those who are not eager to make a deal slowly hang it up for sale, so the clearance cycle is always very long.
In fact, this is a process of relying on time to dilute losses and the annoyance caused by losses. There will be inflation when there is deflation, and there will be deflation when there is inflation. This is the so-called cycle. There is an asymmetry in people's cognition of inflation and deflation. Generally speaking, people may hate inflation, but they don't feel much about deflation.
People hate inflation because of currency depreciation: when inflation occurs, prices rise, and people's living costs increase, so the impact of inflation on people's lives is intuitively visible. And they hate deflation because of falling income. During deflation, the transmission process is relatively hidden. Behind the price drop, corporate income declines, personal income decreases, and consumption decreases, which in turn triggers a series of problems. And these situations are quietly happening to us and around us.
