We are actually in a rolling Biflationary Depression - both inflation AND deflation. I wrote a whole book on it and got decent reviews.
What happens is that as you flood the monetary system with cash, you get the expected inflation in goods. But the trick is the monetary velocity crashes, business is screwed up at many levels. So some areas of the economy actually collapse at the same time. That’s where we are now, with Covid on top.
Sounds interesting. Congrats ! You just sold a kindle version. :-)
The underlying economic trend in our country is deflationary.
The inflationary forces are only the result of currency manipulation, not real economic forces related to supply and demand.