That is why the current admin keeps talking about (and trying to push) printing more money. Because the obvious plan is to inflate out of the mess. Which they have been a little.
The big question is, will they succeed at accelerating it or not?
Considering most folks feel like actual inflation is > anything they can get from a money market account (and hard to argue with them!), that is why we have the problem we have.
If actual inflation > IR you can get for safe investments, it means inflation is working as designed. Mainstream economists make the argument that anyone who saves money is selfishly hoarding resources that could be spent or invested. The Fed is supposed to print money to purposely cause inflation, precisely to "tax" this unsocial behavior and incentivize consumption, riskier investments, and debt.
I don't personally agree with this argument. But everyone should be aware that the argument exists, many economists endorse it, and it is used to guide policy in many countries.
The person I'm responding to thinks everything is going to blow up. That means he expects equities to worth a lot less than now. The obvious thing to do is to hold cash.
So I hold ln to my cash, the bubble pops and I lose 10% to inflation because eggs will increase in price by 10%, just so I can buy stocks at a discount and wait 5 years for a 10% increase post bubble pop?
Then you deploy the cash into equities if/when it does crash so you can buy at an inevitable discount.
Personally, I think we are just at the beginning of the boom.