Clearly Europe Has A Crushing Deflation Problem... Oh Wait

This is the fundamental problem with neo-Keynesian economists:  they believe deflation is the biggest impediment to economic growth.  It is, to a certain extent--to the banking system, for starters.  But to the masses, rising prices against a backdrop of declining incomes is destroying the middle class and under class.

Injecting liquidity to solve a debt problem worsens the vicious cycle of more indebtedness.

http://www.zerohedge.com/news/2014-10-04/clearly-europe-has-crushing-deflation-problem-oh-wait