funny you say that, i actually subscribe to the opposite belief, not that I am acquiring debt because I think the dollar will fall, but I am not in a rush to get rid of it so quickly exactly because I think the dollar will fall.
I agree. But the point of what we did was to USE our hard earned retirement for something productive in case we end up losing a ton of money in the market. If we lose $100s of thousands of dollars in the market and still have tons of debt it doesn't really matter what the dollar is worth. We will have lost money and still owe. Also, if the market falls jobs will continue to drop off and we want to be in the best case scenario if my DH were to lose his job. At this point we'd only have to pay our mortgage to not be in risk of losing everything.
The decision is not for everyone. We are Dave Ramsey fans, but it was taking us too long to get to his 2nd step of saving. He wouldn't approve of our using some retirement to pay off debt, but we have kept zero balances for over a year now...so in the end a good thing. His objection to using retirement to pay things off is that people end up right back in debt and they have nothing to show for the lose in future money. Now we are able to save much more per month as well as stay out of any credit debt.
I think that going into a crash you should be prepared financially.