I’m of the opinion that we will see “Bi-Flation”. That is, inflation and deflation simultaneously - based upon asset class if you will.
Those things which are traditionally purchased using credit have already deflated and the markets for such products have tanked and are not coming back. Real Estate, Automobiles and high ticket consumer goods traditionally purchased with credit have deflated. Commodities and non-discretional items such as food, clothing and low-ticket essentials will inflate in comparison to fiat currencies such as the dollar that are now being debased around the world. And you would invest, how?