I'd say a little early and drastic to make that claim.
I know this isn't the forum for this type of conversation, so I will keep it brief.
The US Federal Reserve and Treasury are essentially enacting what is called "Modern Monetary Theory". Likely we will see negative interest rates as well. The consequences of these actions are irreversible and not well understood. (Lookup IMF papers on negative interest rates, we literally do not know the consequences.)
The corporate debt situation in America is analogous to the 2008 Mortgage Backed Securities, except this time the US government is propping up the market by using it's money printer at full blast. However, this still cannot last. These highly levered firms with no real output for 3-6 months (which make no mistake we will be locked down at least until June) will be devastated. The Fed may bail out these companies, but the effects of having no real output while being propped by the government will be shattering. When, not if, but when these companies cannot keep up their debt payments, or when the ratings agencies decide to downgrade the corporate bonds, many 30-50 year olds will be screwed.
Many of the "automatic" investing that is done in 401k's and IRA's is into these very risky corporate bonds. Generally bonds are inversely related to stock prices, making them a safe investment. But these investing products weren't designed for pandemics.
Additionally, 5% of the entire labor force in the US was laid off in the past two weeks (source: US Jobless claims). That has never happened.
Inflation will catch up with America once the immediate crisis is gone within 6-12 months, and we will have to face the lack of output and corporate debt crisis. People laugh at Trump wanting to start an infrastructure overhaul, but we need a program by the government to do something with the unemployed, or else these families won't have food.
I work for an investment firm and clearly you see my own investing beliefs, but take it from someone smarter than me in the "bear case" of Howard Mark's most recent memo.
www.oaktreecapital.com