The best that can be hoped for is some relief from the price level via bankruptcies and defaults.  The future will be bleak with long sluggish business cycles.  periodic 30% unemployment, and wildly fluctuating currency strength.  The currency strength depends on the wage share which will vary widely.  Bleak as it is,  this is certainly preferable to the alternative,  which is the present course:

The real wage peaked around 2000.

Real output will start to decline after 2020.

All of this is a foreseeable consequence of inflation.  If deflation is too rapid,  unemployment will go over 40% and civilization will cease. A mess that took 70 years to create will take 200 years to remedy.