Deflation is coming ... hurrah!

This video purports to show why deflation is "scary".

Reason 1: Consumers put off spending if prices are falling. Why is this scary? The money not spent will be saved. What is so bad about saving money?
Reason 2: Monetary policy loses its effectiveness - the central bank can't lower rates below zero. This is based on the assumption that people want to borrow money. Why should people constantly be in the position of borrowing money?
Reason 3: People put off borrowing money, such as mortgages, as the threat of rising real debt burden grows.

The truth is that inflation is a form of theft from savers. Debtors, who are assuming that inflation will continue, will find it "scary" that they actually have to pay back their debts. Cry me a river. Deflation encourages saving, which is a good thing (except to bankers). It enables savers to stop being debt-slaves.