According to Andy Gauss this means an inflationary depression (zimbabwe/Wiemar Republic)
rather than a deflationary depression (America 1930s)
http://www.projectcamelot.org/andy_gauss.mp3
The way Andy described it, we are past the point of no
return speeding toward the chasm. The deflationary choice
is jamming on the brakes and skidding to the lip, falling off in the short term abruptly.
The inflationary choice is to hit pedal to the metal and
speed off the lip in a long graceful arc down into the chasm over the next three years or so....