The problem with comparing past busts to current economic conditions is that previous cycles were all done within the parameters of hard money-i. gold standard. We do not have that. So Inflation is possible but not necessarily so - and hyperinflation is highly unlikely in our modern economies. The USA isn't Zimbabwe

Most of the boom and bust could be leveled out if the USA had a jobs guarantee or universal basic income or both. This would create a smoother flow of consumer demand

The Fed then only needs manage