Deflation and inflation

In the FT:

Economists of monetarist and Keynesian persuasions disagree about many things. However, they are currently united in their views on inflation. They see the risk of deflation as being far greater. This conventional wisdom is reflected in extremely low yields for government bonds in Europe and the US. Yet a resurgence of inflation may be closer than many believe.

I'd be willing quite a bit on big inflation in the near future, despite the fact that all branches of mainstream economics suggest otherwise.  It will be to see how mainstream economists justify continuing to believe in their theories after they are proved wrong yet again.

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