Puz,

You said, "Perhaps by some definitions of deflation, it is deflationary. But not by the original definition; the one that actually matters. There has been no decrease in the money supply. It has actually increased, dramatically."

Aren't the deflationists arguing that even though there is an increase in the money supply, that money is not and will not get into the hands of consumers enough to increase upward pressure on prices?

B.