Don’t doubt deflation is here to stay

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There are many who, with wishful thinking, believe the UK's current zero rate of inflation will not last and inflation will return soon.

I do not believe them. Deflation is likely. Why else would Switzerland have issued a ten year bond at a negative interest rate yesterday? And why otherwise are Danish banks actually paying people to take mortgages?

Now, I know these are not UK situations and we have our own currency, but such moves tend to replicate themselves. And I think deflation remains our most likely long term prospect unless we "print" more money into the economy to create sustainable employment, long term investment and increased economic activity via the Green New Deal and green QE.

The case is overwhelming. And it's one that has to be won.