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Drastic solutions were advocated: devaluation, severe deflation, protectionism.
Or at least they will be unless there is severe deflation.
That's a disaster level, implying severe deflation in the debtor nations — or, more likely, a euro breakup.
C1 Hong Kong's Severe Deflation Twenty-two percent of residential mortgages in Hong Kong are now larger than the value of the properties they financed.
The real price of gold "wants" to rise; if you try to peg the nominal price level to gold, that can only happen through severe deflation.
Despite less severe deflation, Japan's net public debt ratio is already far higher than America's was at its peak in the 1930s.
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At home: the severest deflation, unemployment, bankruptcies, bailouts since … well, the marker keeps changing, shifting all the way back to the 1930s.
It's at least an A- paper, I think — and that's taking into account the severe grade deflation sweeping universities in 2120.
Underlying sales of books were particularly poor, down 7%to8%8% according to analysts, amid severe price deflation after a weak year for biographies �� apart from former Manchester United manager Alex Ferguson's book – while sales of stationery and newspapers all fell.
But the worst cases involve severe asset deflation and destruction of financial system capital.
With the ECB determined to keep inflation at around 2%, internal devaluation brings severe recession, even deflation.
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