We seem to be in payback mode right now.
When you get a lot of borrowing that heats up the economy and prices rise.
Eventually the people of a nation hit the limit of debt that they can afford and they stop borrowing. Even low interest rates won't entice them to spend money they don't have.
Then ... they switch over and work on paying their debt down. That's a lot of money leaving the economy and going back into storage.
There's not as much money running around. It becomes harder to come by. The economy slows. Consumer demand drops. Prices drop.
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