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How to Construct a Deflation Proof Portfolio

I still believe deflation is here for a good while, so please explain the following ( I love your articles as well- you have broad perspective, not so adamant like many others ):
- the Fed is printing like mad, we know that, but so are others globally; so the dollar is rising on a relative basis so far. What events would reverse that?
- the printed money is not flowing to the consumer; banks aren't lending as easily ( 20% down, higher rates; need good credit score, etc ). If the American consumer stops consuming, relatively speaking, how do prices go up? And I might add, the American consumer I believe finally gets it, we are done living beyond our means. So even if stimulus money shows up, it will be used to pay down debt or saved. All IMHO of course.
Thank you.