> Gas and food prices would likely drop like a stone if we are facing another 2008-like crisis. Not necessarily. For deflation to occur, especially in staple g

> Gas and food prices would likely drop like a stone if we are facing another 2008-like crisis. Not necessarily. For deflation to occur, especially in staple goods (for which demand is sticky) in addition to stable or contracting money supply (M2) you need significant supply side growth. Neither is certain. I personally doubt that politicians will hold the purse closed at a time when lower and middle income voters are stretched thin. Deflation-causing policies also tend to lower tax revenues. My bet instead is that crisis or not we will likely see debt deflation via below inflation interest rates. Just a personal position, I do not have a crystal ball.