Yes, yes, of course. The deflationary bust starts with an increase in hoarding, not with constant hoarding.
But an increase in hoarding means a decrease in the time preference. The decrease of the interest rate is a move of the economy towards an equilibrium, reflecting the choices of the consumers.
No.
You assume that an increase in hoarding must come from an increase in savings but my sequence of events assumes precisely the opposite. You see the "spend vs save" but you don't subdivide savings into "hoard vs lend".
And you don't see anything other than lending as productive savings. This is far from the case. The truth is that no matter what we say or argue about it all, it's too complex for any of us to summarize completely. Trained professionals have been arguing these points for decades. Since the topic is too complex for any of us to completely understand, we must all simplify it in our heads. Create our own economic worldview, so to speak. Ultimately, it comes down to belief; which economic theory do each of use consider to be most accurate? I
believe Austrian Economic theory to be most accurate in a great many ways. IMHO, this is how one can tell which economists to listen to...
Which ones make a significant majority of their personal income from their personal investments? Peter Thiel is an Austrian, and kicks Krugman's ass; but doesn't offer advice publicly. Mish is an Austrian as well as Schiff, both offer advice; both appear to do better on their personal investments than Krugman. Krugman does better on his public appearances and writing royalties, much better.
In the long run, our opinions matter very little. Create your alt-coin jtimon, and let the market decide.