In 2007 someone told me that if we all did that strategy, the US and world financial markets would implode.
Studying the situation, I found he was right. The economy runs on debt, and has for almost 70 years.
Looking back into history, similar things have been done, but never on this scale. The crash is going to be nasty.
Or to put it a bit more cynically, the economy runs on stupid people.....it's just a big exposition of "The Greater Fool Theory."