Buffett and Munger have said that they are having difficulty investing cash because they have so much of it. In this case it seems irresponsible to take loans. I don't see the point unless it's a tax dodge.
The reality is, there's 120% MORE narrow money (M1) today than there was in 2007. There's also 74% more board money (M3).
Has there ever been a long period (12 years, in this case) where we've had only ~25% inflation with ~120% growth in the money supply?
Naively, it seems like there's either too much money (not sure how you solve that) or everything is too cheap.
A strong burst of inflation could (somewhat) reconcile these promises with reality.