How is That Progression on Deflation Doing?

Let me count the ways:

1. Real estate prices continue to find new nadirs.  (In other words, now is not the time to buy that house!)
2. Our government is flat broke, which of course does not come as a surprise to anyone who is still breathing.
3. Greece, Ireland, and Spain are probably only months away from declaring bankruptcy, which of course means the complete deleveraging or should I say complete repudiation of their debts.
4. EU is in complete disarray.  
5. There is almost no business lending by the banks, unless you consider that hedge funds are able to borrow all they want to make speculative purchases like LinkedIn. 
6. QE 2 is ending at the in of June, which should make things real interesting until we get QE 3, 4, 5, 6, and 7.  (Anything to try to support the price level of financial assets, which of course will end very badly.)