Upthread poster is wrong about deflation (at least, who it is bad/good for, its not clear at all to me what they think it is.) But you are also wrong about what it is.
> Deflation is prices are going up and wages are stagnant or falling.
No, deflation is a decrease in the general price level, not an increase (which is inflation), no matter what else happens at the same time.
You just (approximately) described stagflation (the combination of inflation and economic stagnation/recession), which, like deflation is generally bad, but is a very different flavor of bad.
Upthread poster is wrong about deflation (at least, who it is bad/good for, its not clear at all to me what they think it is.) But you are also wrong about what it is.
> Deflation is prices are going up and wages are stagnant or falling.
No, deflation is a decrease in the general price level, not an increase (which is inflation), no matter what else happens at the same time.
You just (approximately) described stagflation (the combination of inflation and economic stagnation/recession), which, like deflation is generally bad, but is a very different flavor of bad.