Destruction of wealth (perceived & real) can happen with either inflation or deflation.
It depends on what is considered wealth. Money? Real Property? Business Property? Gold?
The real disaster is when you have both. Is that possible? Yes, inflation followed by a total deflationary collapse.
Do I think that will happen? No human knows.
This is NOT a business as usual situation. We are in uncharted waters. And it is a global problem.
God bless the United States of America.
I've seen more people predicting mild deflation followed by high or hyperinflation. How would we reach the result you predict?