When you have enough butter for 7 bagels, But use that butter for 25 bagels, none of the 25 nations will taste the butter. That’s the deflation problem. Wealth, mostly from the USA, (manufacturing) was spread too far and wide, spread too thin.
To over ride the lack of taste, TPTB borrowed artificial butter from the future, loads of it AKA debt. Way too much debt out there.