&quot;Zero-bound&quot; means &quot;at or near zero.&quot; Inflation is easy to kill in today&#x27;s world: just raise interest rates a <i>little tiny bit</i> for a short period of time and the deflationary downdraft will snuff any little inflationary ticks upward. But they&#x27;ll be forced to drop rates again quickly or we&#x27;ll fall back into deflation. The instant they raise rates the debt defaults and asset price collapses will start.<p>Earth is now Japan. Perhaps Mars is the next America.