patrick.net

Over the past decade I heard a handful of different people talk about how inflating the us debt away was the most likely way we would deal with it, and was quickly becoming the only realistic option.

And we've seen the signs

- coordinated govt policies that oddly encouraged inflation by messing with the supply chain, intentionally causing shortages for reasons that didnt add up.
- war, and the widely expected effect upon energy prices, causing MASSIVE input cost inflation to all products and sectors. the temporary petro price relief is likely just for midterms.
- a fed thats wrong over and over again, and is acting sloth like in to bring down inflation.

I paid attention to the "inflate the debt away town cryers" this past decade, so I should have recognized this for what it really was much sooner. But I initially thought the inflation would be short lived once lockdowns ended. Now I think we'll probably be "battling" above normal inflation for some years to come.

Called this a year ago. There’s only two ways out of our national debt crisis.
1)inflate it away until it’s small compared to the value of money.
2)kill off a shitload of old people and take their money through death taxes.

I think the government has decided to do both. Inflation + jab FTW!

If you think the US is inflating debt then Europe is hyper-inflating its debt. True the Fed has reacted (too) slowly but still much faster than the ECB which is already peddling back and select countries starting QE to infinity again to support their bond market.

Inflation naturally reduces the future value of money, thereby debt owed in the future.
The Democrats don't care about the debt; they raise it all they can and then say we need to "pay our fair share"=tax responsible people to pay for 1. losers 2. government goldbricks 3. defense budget .

The problem is the interest on the debt is paid to foreigners; about 1/3 of the US debt is owned by people not in the USA.
This means you work and pay taxes to pay interest to a foreigner or foreign government (e.g. Norway).

I'm so disgusted by the losers and their resentment towards people who saved; I hear snarky comments in Florida (lots of working poor here) from people who know I have investment accounts. They of course don't appreciate that I began investing aggressively in 1983, and had no kids to raise. The dollar is falling against the currency of responsible governments; when I visited Switzerland in 1974 I exchanged $1 USD for 3 Swiss Francs.

clambo says

people who know I have investment accounts.

That's your mistake right there: nobody NEEDS to know.