Deflation Explained

Since those of us who still reside in the Empire of Sorrows have this to look forward to, it's valuable to have a cogent, if not complete, explanation of how this deflation thingie is going to work (or, not actually work, but still...). Try this piece from a fellow blogger, who was apparently buying the silly inflation argument to begin with, before being convinced that the massive destruction of the trillions of fantasy assets will lead to reduced employment, consumption, growth, and suffering everywhere. For sentient beings who, like Chaos, still inhabit places where the local economy has not even begun to suffer, this new way of living is going to look very different indeed.