Is the future inflation or deflation?

A good question but I have always been of the mind that inflation is the enemy and not deflation. The more the Bank of England and ministers told me otherwise, the more I knew I was right.

This piece at Anna Raccoon seems to be in agreement with me, here's the conclusion:

'The ECB balance sheet is nowhere near sufficient for the task and so the choice is either:

• to let country after country default and smash all their national banks (surely a non-starter),
• let the Euro dissolve and go back to national currencies (the right move, but devastating for the EU project as a whole, so I can’t see it on a large scale) or,
• get the ECB to print.

And thus I think inflation, rampant and long-term as the UK engages in de facto devaluation as we also print to avoid having Sterling “over-valued”'

Say goodbye to your savings...