Although I believe that we will see super- or hyper-inflation in many countries in the next several years, and include the US among the countries which will be impacted, I still think that the current environment is highly deflationary, because of all the credit destruction. The money printing that has occurred doesn't compensate for the mortgage industry collapse, the total disappearance of HELOC, and the drop of the credit limits on credit cards yet.
This chart shows searches for inflation/deflation and is restricted geographically to the US. Click for bigger image.So I would assume that people are still in denial when it comes to deflation.
The same comparison on YouTube.com gives the following results:
- inflation: about 15,900 results
- deflation: about 2,830 results