The logic, is that without inflation, we have 30% of mortgage holders (and no most will not be walking away) with approx. 90K in debt over what they could sell for ,meaning they are stuck and they are not going to be in a spending mood for a very long time.
Also the Gov debt will need to be paid off in basically “GOLD” if there is no inflation.
We would need about 5 years of 7-8% inflation to get anywhere close to being out of this debt trap.
Until then welcome to Japan (without the culture of course).
