When private individuals have credit problems, the effect is deflationary as individuals must liquidate assets in order to raise money.

FORBES: Toning Down Muscle Memory

The overall effect is deflationary: she shows, example by example, how much better it is to argue about the rights and wrongs of techniques in the here and now than to dazzle or terrify ourselves with techno-futurology.

ECONOMIST: Bioethics

Even as the government tries to prop up corporate Japan, the central bank's policy has the opposite effect, increasing deflationary pressures and keeping the yen high.

ECONOMIST: Japanese finances