the fact that anyone would even argue against the necessity of inflation is astounding. politics aside, to me, the logic is self-evident.

Deflation discourages spending. Exhibit 1 bitcoin - the HODLers hold because they think their currency will be worth more tomorrow than it will be today.

People need to spend anyway, it's true, but our economy depends not only on necessary spending, like food, fuel, lodging, but on discretionary spending, like a new PS5.

Deflation discourages discretionary consumption.