Inflation or Deflation?

In our current economic environment, it’s not always so easy to know whether we’re heading for inflation or deflation.  So people who ordinarily don’t hesitate when it comes to investing their money, are now confused as to where to put it.  Some, like Allen Taylor, have suggested at a time like this it might be worth “considering alternative investments.”  But even Taylor claims that no one can be really sure of what the right move is.