Nah, in a debt trap, need growth for inflation, but debt and uncleared bad investment drag on growth. As money supply grows velocity declines, as banks aren’t loaning out new capital because expected returns aren’t high
This is nice corroboration of the idea that our expectations are shaped not just by current events but by our formative years: 60+s remember the inflationary 70s. See eg: https://eml.berkeley.edu/~ulrike/Papers/DepressionBabies_37.pdf…