WSJ - 5 reasons to worry about deflation. It's become annoying how everyone is fixated on this article, to the point that it's monopolizing the discussion, so let me respond with this:
1 Reason Not to Worry About Deflation
1. It's not happening in the USA. It's happening in Europe, and even a pinko sociamalist like me admits that Europe's economy is and always has been a clusterfuck. So the fact that Europe's economy is going down the drain shouldn't be news to anyone: it's just reaffirmation of the status quo.
Thank you. Please place my Nobel Prize in Economics over there beside the big stack of furry porn.