The currency is collapsing. The Fed; has us in a liquidity trap. It cannot stop floating the stock market, it cannot get the banks off life support, it cannot stop QE and it cannot raise interest rates.
The only way out is default or war - probably one then the other.
I have the SAME expectation.
It seems the debate is one or the other. That is not how things work.
We will have and are having inflation of essentials. There will be deflations of non essentials. Money is looking for a place to land right now.