If we had something like the Japanese deflation I'm sure Milton would say: Pour more money into the system.

如果我们喜欢日本式的通货紧缩，我可以肯定米尔顿会说：把更多钱注入系统。

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But Spain no longer has its own money, which means that it can regain competitiveness only through a slow, grinding process of deflation.

然而，西班牙不再拥有自己的货币，这就意味着它只能通过缓慢而折磨人的通货紧缩来重新恢复竞争力。

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Nevertheless, by reining in its money supply, Japan has not only avoided inflation but has actually experienced deflation.

尽管如此，通过节流货币供给，日本不仅避免了通胀，甚至还经历了一定程度的通缩。

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The value of money changes through time because of inflation or deflation; yet, most of our debts are written in money terms.

货币的价值因时而异,那是因为存在通货膨胀和通货紧缩;,但是，我们大多数负债都以货币方式记录。

耶鲁公开课 - 金融市场课程节选

Deflation is actually a good thing, because in a deflation prices drop and money becomes more valuable, so deflation encourages people to save money.

FORBES: Fear Not Deflation

As America prints more and more money to prevent deflation, China must (if it wants to sustain the dollar-renminbi parity) print equal money -- risking inflation.

CNN: The recession was made in China

Once they finally step away from expanding the money supply, deflation rapidly takes hold.

FORBES: Deflation Isn't The Enemy