WI: 2008 Deflation

My teacher was a Wallstreet outcast, who mentioned today that the Government, in response to the Stock Market slide in '08, dumped tons of money into the economy to prevent it from falling into a deflation depression.

What if the Deflation occurred?
 
We'd be able to purchase a lot more things, which could (theoretically) jumpstart the economy.
However, since a big chunk of the current inflation is caused in part by the overreliance on fossil fuels, particularly gasoline, and how the price has risen for a long time- and the current global instability caused by numerous factors (including our foreign policy) causes said rise...I'd say deflation nis out of the question for a while...
 
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