The vapid discussions about "soft" or "hard" landings for the economy are akin to asking if the Titanic's encounter with the iceberg was "soft" or "hard:" either way, the ship was doomed, just as the global economy is doomed by The New Normal of Death Spirals and Speculative Frenzies.
Death Spirals are the inevitable result of entrenched interests clinging on to the status quo and thwarting any adaptation or evolution that might threaten or diminish their share of the swag--and that includes any real change because any consequential modification has the potential to upset the gravey train.