The biggest question facing investors today

I had a great time at the MoneyWeek conference on Friday. The talks were all extremely interesting, and I enjoyed the chance to have a chat with so many of you in person. As for the main theme that arose from the conference: well, I already knew you were interested in house prices. And I already knew you were interested in gold. But the biggest question on everyone's minds is still the one we’ve all been asking ourselves ever since the credit crunch of 2008. “Do we face inflation or deflation?” So which is it? And what does it mean for your investments?