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  1. (noun), Deflation is that state in which $$$$$$ Trillions printed by central banks all end up on the balance sheets of those who already have more money than they can ever spend, while those who would spend it receive none. Often accompanied by circumstances in which retirees and responsible individuals receive no interest on their savings because banks get money for free. Additional deflationary factors include excess capacity and increasing efficiency resulting in widespread unemployment. During deflationary periods, bankers avoid lending money because of their own previous bad loan underwriting decisions and non-bankers avoid borrowing and also avoid spending money due to fear of poverty. One common factor that seems to exacerbate all deflationary forces appears to be declining population levels.
See also: Monetary policy disasters (or better yet, see #NewEnglandPatriotsDeflateGate).
478. #(noun), what happens when the balloon you stuffed down the front of your pants breaks.