This week is loaded with very important reports for the market, and judging by how things are looking, it could be a good time to grab some aspirin.

“Deflation now, inflation later” is how Bill Bonner sees this crisis evolving. For now, US dollars protect you from falling asset values. But don’t get too attached: when the inflation bubble begins, the greenback will be tossed aside, and gold will fly.

There is no longer any doubt that we are heading for a deep, deflationary recession. But James Howard Kunstler is more worried about the “tidal wave” of monetary inflation that will follow. With the financial landscape washed clean, the economy will need to be rebuilt on productive enterprise.

While investors remain extremely concerned about the volatility of the U.S. stock market, the weakness of the American economy and the uncertainty of the global financial markets, last week brought “slight” relief from the excessive panic of the eight-trading-session losing streak.

Consumer prices held steady as the credit crisis took a toll on the sluggish U.S. economy and dampened inflation. The Labor Department announced yesterday (Thursday) that the Consumer Price Index (CPI) was unchanged in September after declining 0.1% in the prior month.

Here’s a possible gold play.

The spread between gold miners and gold bullion has widened considerably since the beginning of the credit crisis in August last year.

Eric Roseman says this only happens in extreme market circumstances.

He expects gold stocks to double over the next one to three years because colossal global government bailouts will back fears over inflation.

Consumer spending was flat in the US in August. Adam Lass says this zero means more than the much-hyped $700 billion figure currently grabbing the headlines.

The bottom line is consumers are running scared, and that is bad news for retailers and manufacturers.

Adam says Whirlpool (NYSE:WHR) and Sherwin-Williams (NYSE:SHW) are in for a particularly rough ride. Even ’safe’ stocks such as Sears (NASDAQ:SHLD) or Kohl’s (NYSE:KSS) could seriously hurt your portfolio in the coming months.

Christian Hill says the Fed’s monthly policy meeting tomorrow will almost certainly leave interest rates unchanged. Currently the market shows a 90% probability that there will be no change to the Fed Funds rate. Jennifer Yousfi says weak economic data almost certainly preclude the possibility of a rate hike. But with inflation still high the Fed will also be unable to cut rates in the short term.

PPI inflation and retail sales for August could show signs of encouragement, thanks to falling commodity prices and back-to-school demand. Although a welcome relief from the deluge of grim headlines, we’re looking at short-term relief from long-term problems, says Christian Hill at Investor’s Daily Edge

Analysts are trumpeting the recent drop in oil prices as a step toward normalcy. But is this celebration premature? Or perhaps even misplaced? After all, we all know that over the long haul, energy prices are headed in only one direction – higher.