CD, Just remember, deflation is about currency or "currency substitute" destruction. It makes no difference if credit collapses if the fed can reproduce that money supply in a blink of an eye. Yes, we my have had periods of deflation in the past few months that have lasted for a short period of time. But this does not matter in the computer age. In a more primitive society, those in power were limited essentially by the speed in which the printing press could actually print. Our leaders have no such limitation. We cannot have deflation until the dollar is actually no longer recognized as a currency. This is the inevitable result of hyperinflation. Bull