National debt

I feel the national debt is beyond payable not even thinking ahead to Boomers retiring. If we assume our credit line has led to enormous amounts of theft, the only way to stop it is to print it away. We are beyond any hope of paying it, that's literally impossible. Pay it or default, start a new country. Taking away food stamps will not do it, making us slaves will not do it, making our kids pay it, will not do it. I feel like not defaulting just allows more theft and raping of America. Debt like this is what caused ww2, we have nothing to show for it all.

I read an interesting analysis of this problem in... either The Economist or another UK publication I am less familiar with.

They worked through the various possibilities and concluded that the US and the EU would most likely eventually solve their debt problems through deliberate inflation.

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Originally Posted by smurgerburger

They worked through the various possibilities and concluded that the US and the EU would most likely eventually solve their debt problems through deliberate inflation.

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That ship is already at sail. The US Federal Reserve "targets" a 2% inflation rate despite a "stable prices" mandate, and then allows inflation to run hot above the target.

The developing companion policy is "financial repression." That's when controls are imposed on the private sector to circumvent restraints on public sector spending. For example they may force banks and pension funds to buy Treasury bonds.