...must be Lloyd (God's Work) Blankfein's worst nightmare.
think about it ... suppose society gradually builds in an expectation that prices are gong to fall, like, say, 2% or 5% per year, forever.
Then what happens?
For one thing, people postpone important purchases - most especially real estate - for as long as possible, knowning that the prices are sure to come down.
Then, by the same token, they become very reluctant to borrow money to make a purchase because the loan balance could be expected to end up larger than the value of the purchase.
And, by the same token, banks and bankers become even more reluctant to make loans, because there would never be adequate collateral to make sure they were repaid.
It'll never happen here. We love you too much, Lloyd.