That only means people will borrow less and the denial of capital some may face will be exactly to the extent to which they profit from deflation and hoarding.

That only means people will borrow less and the denial of capital some may face will be exactly to the extent to which they profit from deflation and hoarding. Borrowing is not the solution to all of the problems, yet it is pictured to be that precisely because of the perverted inflationary economy we currently have.