Inflation is a function of an overheated economy running with a tight labor and commodity market. If you're positing a 2008-like crisis followed by a deep reces

Inflation is a function of an overheated economy running with a tight labor and commodity market. If you're positing a 2008-like crisis followed by a deep recession, it's virtually certain that the economy will become deflationary, as people hoard cash. You don't have to take my word for it. From 2007 to 2008 inflation crashed from nearly 5% to 0.1%.