Yes, prices will rise again

After we are done crashing.

But, even in this short segment it is clear that  prices are not rising as fast as yesterday, and will rise less fast in the future.

We will be spending more time with a negative deflator then in the past.

We never completely recover from recessions because the next regime change of aggrieved parties takes over before the last set of aggrieved parties got paid back. It takes longer to recover from recessions than the political system allows.

The cause is folks who think otherwise and implement flat earth policy. And the answer to Krugman is, No, the flat earth, short term  estimates never worked.

True inflation comes after the partial defaults.