Great Depression as ALL about deflation, we see inflation right now. Which will be painful, but since all countries are seeing inflation its likely just driven by costs in production.
If we huge inflation, then all these expensive mortgages people stretched for the last few years will be super cheap, so all of a sudden majority of Americans will be out of debt, for example.
All those empty commercial properties instead of foreclosing will simply rent home out for "low rent" purposes like gyms, but that low rent in inflated terms will cover the cost of their lease/mortgage.
It could be messy, and will need support from many players, but I don't think we are looking at a Greater Depression.
If we huge inflation, then all these expensive mortgages people stretched for the last few years will be super cheap, so all of a sudden majority of Americans will be out of debt, for example.
All those empty commercial properties instead of foreclosing will simply rent home out for "low rent" purposes like gyms, but that low rent in inflated terms will cover the cost of their lease/mortgage.
It could be messy, and will need support from many players, but I don't think we are looking at a Greater Depression.