Equation to help understand inflation

Can't figure out if we'll have inflation or deflation? Guess using this equation from Mauldin: Money x Velocity = Price(infl/defl) x GDP

And don't forget in 1933 Roosevelt had the new deal. In 1937 tried to fix it and balance budget, drove back to recession. Think Obama can do better in his 4 years?

Thanks.

--David

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