How sad for the blogger calling himself Lord Keynes that he does not pore over the works of Smiling Dave. Like the unfortunate Faust, our respected Lord Keynes can say
I’ve studied now [Milton Friedman]
And [Krugman], [Keynes],—
And even, alas! [Ben Bernanke],—
From end to end, with labor keen;
And here, poor fool! with all my lore
I stand, no wiser than before
I refer to his article, Rothbard Refutes Rothbard on the Effects of Deflation, where he accuses poor Rothbard of saying deflation is OK in most of his writings, but for one place where he talks about “wracking deflation”.
Lord Keynes, you need a healthy dose of Smiling Dave. Go to this post, Deflation. The Good, the Bad, and the Ugly. There you will see that the great Henry Hazlitt can be accused of the same apparent contradiction by the uninformed, and the reconciliation by Smiling Dave. Stay up late, reading it over and over by candlelight, until it sinks in. Only thus will you be saved from Mephistopheles showing up and dragging your soul away to the land of errors.