re: Yellen: US on track to default on national debt in October

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How long can they keep doing this???? Eventually, the SHTF scenario unfolds.

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well eventually the Treasury will be insolvent or we will inflate the dollar into the ground

I don’t see another way out, because Lord knows fiscal conservatism is long dead. And even if it wasn’t raising interest rates or tapering security buys by the Fed would absolutely tank our bloated markets. Regardless, we don’t want to pay higher interest rates on our exponentially increasing debt so easy money is just the way of the land forever more now.

From where I stand the SHTF scenario is already inevitable. The only way to avoid it within this paradigm of MMT is for inflation to be slow enough to not cause a panic, but we need that inflation to help pay off our debt which is exponentially increasing. You do the math.