I don't see it either. My grocery bill and energy bill keeps going up and up. Regarding HELOC, one would think that bullish for retail sales.
@Kugs - You're not grokking it. Instead of repeating yourself, go and get Schaum's Outline for statistics or something similar.
"You guys are beating the deflation drum. Where is it?" Just you wait. I see, first, continued asset bubbling (RE, etc) then debt destruction (deflation) when the bond mkt forces interest rates up. The final act is up to the central banks: hyperinflation or let the Treasury and itself go bust. At that point, the IMF will swoop in on the white horse with the one-world currency. Got farming?