> Of asset prices crater, then we'll have an acute deflationary shock, which will prompt the fed to inflate, and that is what will screw the poor.

The problem with this is in what the Fed does with the new money. They currently use it to buy back government debt, which goes to the rich, i.e. existing bondholders. What they should do is to give it out to all citizens equally, which is the opposite of screwing the poor.