Quote:
Originally Posted by Skybird
Unfortunately it is not understood that endlessly inflating the debt burden does not work either but systematically reduces the degrees of freedom a state has for action..
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Its much like living on credit cards and loans, it works for as long you can pay off the interest. Technically so long as you can do that, you never need to pay it back.
Is it wise? obviously not.
We are probably not ever getting out of that one with out a complete global debt collapes of some kind.
If, how and when that would happen is impossible to predict. Wouldn't take much to set it off though at this point.
Agree it is remarkably short sighted of people of an already heavily indebted nation to applaud government policies offering more 'free stuff', because its not, and they, their children or their grand children will pay for it one way or another in the end.