And once this deflationary spiral has run its course, an inflationary bang of epic proportions should commence that will go down in history as one for the ages.
There’s seems to be no other way around this scenario playing out.
The FED has done their best to forestall this cycle with QE et al, but the underlying conditions remain.
BTW, I can’t blame the FED for trying if you consider the position they were in.
Some folks here think “Deflation” would be a good thing. Higher US Dollar and their increased buying power. If they recalled a little history, there was a time during the US Depression of the 1930’s in which people were out of work and hungry and the producers of food were dumping their stocks in an effort to gain some pricing power.