Apparently, when Volcker was in charge he instituted pretty hard controls on the amount of money, thus clamping down on inflation.

Another thing to think about is the correlation between inflation and bubbles/booms – when the bubble bursts, won’t it make sense for the reverse of inflation -> deflation to occur?

I’m actually not very concerned about deflation. It actually empowers and enriches the prudent ones who have guarded their investments and savings carefully, instead of spending incessantly on useless consumerism. In this respect, you could say I veer left.

The austrians were right when they argued against the fractional banking system backed by the state, which is a huge cause of our present woes. Mencius Moldbug was even more spectacular in calling it outright fraud.