The theory of the velocity of money is an insignificant fallacy effect. Its classic description is of businesses spending their revenue on consumption at retail sale as if it were their individual income. However, businesses have debts they must pay and this eating your seed corn fallaciously described beneficial effect is just another thrust that would increase the business’s necessity to borrow more, more often, and as you say debt’s continual build up is the ultimate economic problem. So even if this does occur within the flux of the economy it has no beneficial economic effect…except to affirm some austerian pundit’s claim that there’s a lot more money available in the economy than there actually is.

Finally, focusing on commercial liquidity is part of the indirectness problem of the old/current paradigm, and direct individual liquidity/purchasing power trumps it. Systems were made for Man, not Man for systems after all.