[expat_panama]

The belief that money made tomorrow will be worth less than money today stymies investment

In other words, belief that inflation will occur stymies investment.

Now I don't know what he meant, tho our guess was that the writer was talking deflation.  Whatever it was we took a vote and agreed he botched that line.

[palmer]

I disagree. The author was pointing out that inflation is bad then trying to make the case that deflation is worse. He failed. Basically is argument is that using more serious-sounding adjectives for deflation it is worse than the less serious sounding adjectives he uses for inflation.

The real problem is that the government's war on deflation is killing investment and ironically creating more deflation. See Japan.

[Cboldt]

-- Whatever it was we took a vote and agreed he botched that line. --

Well, the line makes sense of its own right, but I'm having a hard time attaching any deflationary concern to the observation.

If the price of the goods is not apt to change over time, it makes sens to defer purchase with today's dollar, if you can buy the same product with tomorrow's inflated dollar. That makes sense only if one pays in cash. If you pay with borrowed money, it makes sense to borrow today, because you will be paying back with inflated dollars.