In the short term, maybe. Also, you’re assuming debt has fixed interest rates and asset prices will continue to rise forever. Neither of those things is likely

In the short term, maybe. Also, you’re assuming debt has fixed interest rates and asset prices will continue to rise forever. Neither of those things is likely to be true in the medium term (~5 years). It’s complex. You can’t just look at high inflation in a vacuum without also considering that interest rates will rise (and possibly overcorrect) in response to high inflation.