The difference between hyper inflation and deflationary collapse matters to people with cash money and assets. Much depends on the type of assets you have.
True, it DOES matter to people who actually HAVE some "savings" or "assets" which way the Ball Bounces here. However, since about 80% of the population really HAS no assets or significant savings, how it collapses doesn't really matter to them very much.
The folks who worry about Inflation/Deflation are those who have their Matresses stuffed with FRNs and their Basement Safes stuffed with Gold Eagles to hedge it. They figure if the FRNs go worthless, the Gold will increase in value. They may also buy Land to hedge further, figuring they can grow their own Tomatoes in their raised bed Permaculture Garden either way. Of course, buying Land sticks them with a Tax Liability and since most of the folks with a pile of money would have no clue whatsoever as to what to DO with a piece of land, exactly how good an investment that is for them is an open question.
Let us look at the example of the Average sorta Successful Boomer here who has a Paid Off McMansion, an IRA of say $500K distributed out in Mutual Funds and Stocks and $50K in his FDIC Insured Savings and Checking Accounts. How does Inflation/Deflation affect him?
If it is Deflation ruling the day, his $500K portfolio drops in value tremendously. Stocks drop in value, Bonds are Defaulted on. His $50K in Cash though has more value, assuming of course he gets it out of the Bank before it shuts the doors.
If it is Inflation ruling the day, his Cash money goes about worthless, but in theory he can sell his Stocks and Bonds for higher prices since this is where the newly printed money will flow in some fashion. However, after converting the sale to Cash at the higher prices, it of course still buys less of what he needs, so he burns through the savings there faster.
In neither case can the Boomer Saver really protect himself, the assets he has may stay steady or even rise in nominal value in an inflationary scenario, but upon liquidating them he still cannot buy what he needs because the commodities have also inflated up in nominal cost. In a deflation, his assets are worth less (or in some cases WORTHLESS), so he also is fucked this way.
Definitely Helicopter Ben is trying to Inflate the economy, evidenced by the current $4.35/gal I am paying for Gas now here on the Last Great Frontier. That is even a higher price than I payed right before the crash in 2008-9, I think it maxed then at $4.25/gal. I cannot see how this price can be supported very long. Add to that the around $10/gal price I have read is common in Eurotrashland, WTF can BUY this product anymore in these economies? Either the price collapses or we will quickly be going Lights Out and No Driving here and in Europe. The end consumer isn't being issued money to buy at these prices. I expect a Price Collapse, because I do not think the Illuminati are quite ready to send the entire industrialized world into Lights Out quite yet. Parts of it like Greece and Spain yes, but not the whole Ball of Wax.