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Chinese economy expected to have slipped into deflation as recovery falters
(www.theguardian.com)
this post was submitted on 08 Aug 2023
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Not the OP you were talking to, but I have to object to what you say is ignorance, even though you might be saying it about OP specifically. You probably think everybody thinks of deflation like this.
Deflation is bad -> I believe this is true. But that's not the point.
The current economy is setup this way to make anything other than rampant consumerism and aggressive capitalism a country-destroying phenomenon -> This is what irks people. The rich and powerful have setup a shitty rube-goldberg machine that makes their lives better at the expense of the commonfolk, environment, and everybody else's sanity.
I get your point. But I see what you have said as two independent points.
The way the world is set up deflation is a bad thing, pretty unanimously.
But unrelenting capitalism is a bad thing I agree. But it's separate. Is kind of like saying "we need to get better at football by kicking the ball better" but then saying "the game is stupid you should be able to use your hands". I agree the game is stupid but I wouldn't disagree in the rules of football being better and kicking makes you better at the game, even if the rules should be changed.
Me personally. I have a degree in economics and I don't see governments or international relationships working without a strong basis on capitalism. But I also agree that the system is at a point where capitalism has created enough wealth in the economy something needs to be fundamentally changed. People should work less, spend less (but buy better quality, reparable products), have more community, correct the market this strong externalities and even maybe UBI.
But I'm not celebrating depreciation and reduced consumer spending because the world we are in that means it's a bad thing.