The progressive issue many progressives don't seem to like

[cthulu2016]

82. Why is a 2% mortgage a good thing?

A 2% mortgage in one environment is no better than a 10% mortgage in another environment.

If you, personally, have a stable income then deflation is good. But a low mortgage rate based on flat expectations of growth and inflation is not a bargain. It may be a bargain for an individual in one set of circumstances, but it is not a bargain in the totality of the Japanese economy.

Does anybody say that the last 20 years have been relatively good for Japan? For the Japanese people?

Does anybody say the Great Depression, a deflationary crisis was a bonus for people in aggregate?

There are 1,000 ways an individual can benefit from deflation, or from inflation, or from stability. But we know the aggregate effect on a nation and its economy is malignant. Otherwise the Great Depression would be remembered with fondness as a time you could buy a farm for a dime on the dollar.