Since the April 26 top, the U.S. markets (NYSEArca: VTI ) have lost about $5 trillion of market capitalization. Deflation Threat - A Simple Concept Government spending and money printing has been identified as key causes for an alleged inflationary environment. The Europe (NYSEArca: FEZ) debt debacle reminds us how vital cash is - that's why the European Central Bank and the IMF made $1 trillion available for entire governments.