It appears like this may be a good thread to restart.

Many well known economists (and even a few dissenting members of the Fed) are now starting to become highly interested/worried about the US economy becoming deflationary over the next year.

What are Piggs experiences and thoughts regarding what they’re seeing and reading?

Rich, I know you recently wrote an article expressing your view and the low probability of this. Do you still stand by your assessment/analysis?
http://www.pcasd.com/us_not_going_down_japans_road