Reflation

I believe reflation is closer than deflation. I used a line in my oil price forecast along line of "Generals fight the last war, economists the last depression" and that is why deflation is the ingrained into the minds of Central Banks as an end of the world scenario. The below chart by Dana Lyons of J. Lyons Fund Management on his Tumblr page gives me more confidence I am facing the right direction.

You can read his excellent article on whether reflation is real here.