did you read my post? i fail to see how any of those three sentences were false. maybe you read too much into it. a depression will feature both deflation and inflation. deflation is the main cure to the problem, while inflation is the government response. ill bet you a hundred bucks that by the time this is over, we will have significant inflation (or dollar devaluation) compared to where we are now.
All of the Baby Boomers want to cash out of their McMansions and move into cheap little retirement condos. As they discover that their giants homes won’t sell, they will lower their prices more and more.
In the meantime, the slowing economy means fewer jobs. That leaves less new money available for consumer buying, and also means that fewer and fewer people can get loans.
The above combine to destroy banks and commercial real-estate as loan volume dries up and fewer people shop at malls.
This is wealth destruction at an unprecedented pace.
It is deflationary to an extreme.
To pretend that somehow the government can raise salaries, raise employment, save commercial real-estate, and make millions of McMansions go up in price (i.e. inflation) is to ignore the death spiral that the current global economy is trapped inside.