Sorry, but we call this "pissing into the wind." The global economy became far too leveraged with easy credit and excess savings. "A little bit of inflation" has favored borrowers for far too long and the market merely seeks to correct this by shifting the playing field to rebalance. Maybe "a little bit of deflation" will cause borrowers to liquidate unproductive investments a lot faster rather than throwing good money after bad because it's OPM.

Not to mention that asset price inflation with depressed productive incentives is restricting new supply and new investment. Our policymakers have screwed up the Big Picture with false assumptions about the wealth effect and ignoring the need for true price discovery based on fundamental cash flow values. The more we deny, the worse it will eventually befall us.