Great post!

What I don't understand about the deflation scenario is why US Treasuries should be a good investment. In deflation, debt kills you, right? And US Government has more debt than anyone else, as far as I know.

So how could anyone expect the US Government to be able to collect enough tax revenues to pay for its debt in a deflationary economy? Where is the money gonna come from if US trading partners don't have any surplus dollars from exporting to USA?