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Why is this phenomena a cost to society? By this phenomena, real prices are able to decrease, with all the concomitant benefits of having reduced expenses.

Almost all Euro govts have >100% of their country's total revenue in debt. If prices were to go down, they're completely screwed. If prices go down because you starve the government's income ... that's incredibly bad for them.

(when prices go down you have to pay a bigger percentage of your income to serve the same debt)

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