There is ever more talk about deflation, a new economic scourge. The opposite of inflation, it involves ever less money chasing the same goods. As a consequence, prices drop. Debts balloon under deflation, whereas they shrink under inflation. Those on fixed income, like pensioners, are ever worse off under inflation, but ever better off under deflation. Now, I am about to start getting several pensions, I have a nice little nest-egg, and I have no debt whatsoever. Zilch. No prize for guessing how I feel about the scourge of deflation.