That's one possibility, but it depends a lot on where the money gets injected and where the inflation happens. If it balloons real estate prices before wages catch up, you don't necessarily get that growth of investment into productive areas. Instead it gets more expensive and riskier to start a business, with higher rent payments, and meanwhile a lot of asset-owners retire on their newfound wealth. It gets harder to convince lenders and investers to put money into real production when speculating on land and collecting rents starts getting such good consistent returns.