That was the time when Enron and WorldCom were collapsing and investors were worried about a deflationary recession.

ECONOMIST: The money markets smell a wounded bank

It is true that the deflationary recession was caused by banks that had previously loaned themselves and the economy into insolvency.

FORBES: Deflation Isn't The Enemy

Bernanke believes a deflationary recession must be avoided at all costs and that prosperity can be found in a printing press.

FORBES: Europe's Solution Isn't More Inflation

We are a nation of borrowers, not savers, and therefore we will have no tolerance for a multi-decade deflationary recession that favors savers.

FORBES: Inflation Is Baked In The Cake

Difficult as it is to recall now, 2009 was a period of relatively subdued inflation, because of the deflationary impact of recession: taxes and benefits were uprated by an inflation rate which then turned out to be much higher than what actually happened to prices in the subsequent 12 months.

BBC: Will recession return to the high street?

Stocks could go down further and commodities may repeat their break from 2008, especially if the world goes back into a recession and would bring a deflationary environment.

FORBES: FOCUS: Financial Market Break Revives Memories of 2008

What are (were) the sources of deflationary pressure in the U.S. soon after the Great Recession?

FORBES: How Does The Current Economic Recession Compare To The Great Depression?

Bernanke knew that if the economy did slip back into recession, the country ran the risk of entering a deflationary spiral, which once started, is awfully hard to stop.

FORBES: Some Investors Concerned We Could Be Entering Another Soft Patch