Try to find the Deflation in these pictures, Ben !

The official wordsmiths term for what we are experiencing is a financial crisis. The better term though, is bankruptcy. An outright default was averted by the Fed printing money and providing it to the bankrupt financial institutions. Without that action, the dominoes surely would have kept falling.
In a normal bankruptcy proceeding creditors lose. In this case, the losses are born by all holders of the US currency. The printing of a few trillion Dollars, tends to make it worth less. The zero percent interest offered by the Fed to banks means that savers get no interest income on their cash holdings. In this fashion, money is transferred from pension funds, retirees, savers of all kinds, to banks.
Ben states that to combat deflation he needs to print a few trillions of Dollars. The following pictures make one wonder what he's looking at !

This is the Dollar Index. This is the only chart that shows a declining price. It would be even lower, if not for the Euro, which makes up about half of the index and has been weak lately because of its own debt troubles. I currently own the Euro, because I believe that even in the worst case, its troubles are a lot less than that of the Dollar.

Coffee: no comment, as I will not comment on the next 4 charts either. Let me just say that no matter what commodity you look at, they all look similar. In fact, this is a random collection !

Corn

Copper

Cotton

Soybeans

Though I usually only publish original work (with the exception of these charts that are courtesy of Futuresource.com, I just have to share this youtube clip with you. It's educational and hilarious.

http://www.youtube.com/watch?v=PTUY16CkS-k