We talk about the deflationary wave coming to the market and how it will tear up the economy. While inflation is impacting consumer pocketbooks and damaging corporate earnings, deflation will slam GDP, reduce jobs, and cause massive busts in the debt markets.   While that is occurring, additional rounds of inflation, due to supply chain destruction, will ripple through the economy. It is likely that several of these waves will occur if history is any guide, and we are just in round 1 right now.