The progressive issue many progressives don't seem to like

[cthulu2016]

56. re: reduced interest rates

Since interest rates are only meaningful as rate minus inflation it's tricky to say they go down, expect in nominal terms. For instance, mortgage rates are at record lows today but are probably unusually high in real terms. Since our interest rate pyramid has it's base stuck at zero there is only so low mortgage rates can go. Our record low rates are probably inflated... held artificially high.

And consumer reaction backs this up. All rates are much lower but people are borrowing less. These rates that appear low are actually too high... otherwise people would borrow more.

I think the mortgage rate necessary to turn around the housing market may well be zero or even slightly negative. Weird to think about, but to buy into a truly deflationary commodity even an interest free loan would be a bad deal.

All of that said, yes deflation does benefit some people. For someone with a job with fixed and reliable wages the great depression was a pretty good period.

(And I am not saying that any specific Japanese rates were not a good deal for you.)