Hey..You just gave me an idea...I could refi my condo, take the money out, pay off my debts ( was out of work several years ago and still paying that off!) and then carry a 30 yr mortgage..duh, with inflation, it won’t be a problem to pay it/.
You’re assuming that the inflation will result in higher wages that trail behind the increased cost of goods and services.
That is historically the case, roughly so, even though there is usually a very painful lag period.
In this situation (the death of the dollar) wages will not trail behind the rising costs of goods and services. A credit/debt-based recession (as opposed to an inventory-based recession, which is what comprises 95% of the recessions we’ve had since the Great Depression) will see the destruction of jobs so that very few have the money to spend. Those that do, the large majority, will not be making much money because they will be glad to be employed.
This is their goal and that is why they are issuing currency (albeit digital and only to the first tier banks and financial institutions)...one last hurrah to let the rich multiply their wealth while the middle class is crushed down into the lower class once and for all.