"If there is anything that can give a layman in the sphere of economics the courage to express an opinion on the nature of the alarming economic difficulties of the present day, it is the hopeless confusion of the experts."
-Albert Einstein, 1931
The calls for greater austerity measures and a "balanced budget", where expenditures equal "revenue" are all based on antiquated models based on the gold standard. (a standard that threatens the sovereignty of any country by out-sourcing money creation to gold producers) It is a pity that consensus has formed around these issues especially considering the measures undertaken to forestall additional economic harm have had underwhelming effects.
If this trajectory continues, continued deflation is a massive risk for the global economy (save China, where loans will flow freely to export companies with little production).