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Moreover, as the slump further depresses the prices of goods and services, this intensifies the pace of economic decline. According to the former Federal Reserve Board Chairman Ben Bernanke, Deflation is in almost all cases a side effect of a collapse of aggregate demand--a drop in spending so severe that Top The Lines We Thought Machines Wouldn’t Cross Mon, 18 May 2026 12:32:00 -0500 In 2000, the world braced for Y2K.