Always and everywhere, the popping of a debt bubble will result in deflation. You are swimming upstream against a massive current of real-world experience.
Hmmm...
“Real World Experience”...
One ounce of gold cost $1,837.68 on 7/24/2011 and
One ounce of gold cost $1,222.00 on 7/24/2018.
What was the “real world” inflation rate for gold for that 7-year period? Feel free to use a calculator.
The inflation rate for 2011 was 3.0% and
The inflation rate for 2018 was 1.9%.
Do you think that that “real world” change represents an INCREASE?
I agree with you that America’s deficits and debt obligations are too big and should be reduced.
However, I do NOT agree that we should immediately “freak out” about those bloated deficits and debts. A FED-caused recession (like all “real world” recessions) will DECREASE tax revenues and will INCREASE “transfer payments”. The “real world” result: MORE deficits and MORE debt!